Rehmann Capital Advisory Group Sells 4,451 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Rehmann Capital Advisory Group lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 7.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,531 shares of the network equipment provider's stock after selling 4,451 shares during the quarter. Rehmann Capital Advisory Group's holdings in Cisco Systems were worth $3,365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CSCO. Brighton Jones LLC boosted its holdings in Cisco Systems by 49.5% during the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock worth $4,392,000 after buying an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock worth $542,000 after acquiring an additional 2,474 shares in the last quarter. Proficio Capital Partners LLC increased its position in shares of Cisco Systems by 76.4% in the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock worth $1,003,000 after acquiring an additional 7,338 shares in the last quarter. Paragon Private Wealth Management LLC purchased a new position in shares of Cisco Systems in the fourth quarter worth approximately $256,000. Finally, Independent Advisor Alliance increased its position in shares of Cisco Systems by 41.0% in the fourth quarter. Independent Advisor Alliance now owns 103,155 shares of the network equipment provider's stock worth $6,107,000 after acquiring an additional 29,972 shares in the last quarter. Institutional investors own 73.33% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CSCO. Piper Sandler lifted their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Wall Street Zen upgraded shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. KeyCorp began coverage on shares of Cisco Systems in a research note on Thursday, June 26th. They set an "overweight" rating and a $77.00 price target on the stock. New Street Research reaffirmed a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and upped their price objective for the stock from $65.00 to $73.00 in a report on Monday, June 16th. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $69.53.

Insider Activity

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,407 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total transaction of $154,072.07. Following the sale, the executive vice president owned 177,027 shares of the company's stock, valued at approximately $11,331,498.27. The trade was a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the sale, the executive vice president directly owned 174,669 shares in the company, valued at approximately $11,447,806.26. The trade was a 4.76% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,335 shares of company stock valued at $6,271,054. Company insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

Shares of CSCO traded up $0.68 during trading hours on Wednesday, hitting $69.27. The company had a trading volume of 23,762,244 shares, compared to its average volume of 20,386,182. The firm has a market cap of $274.31 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 4.12 and a beta of 0.90. The business has a fifty day moving average of $64.40 and a 200-day moving average of $61.63. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the prior year, the company posted $0.88 earnings per share. Cisco Systems's revenue was up 11.4% compared to the same quarter last year. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.37%. Cisco Systems's payout ratio is 66.94%.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.