Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 11.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 274,800 shares of the network equipment provider's stock after selling 34,479 shares during the quarter. Salem Investment Counselors Inc.'s holdings in Cisco Systems were worth $16,958,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Glass Jacobson Investment Advisors llc increased its stake in shares of Cisco Systems by 8.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after purchasing an additional 166 shares in the last quarter. Fairhaven Wealth Management LLC grew its stake in Cisco Systems by 2.3% during the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock valued at $449,000 after acquiring an additional 167 shares in the last quarter. BlackDiamond Wealth Management LLC grew its stake in Cisco Systems by 3.1% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock valued at $335,000 after acquiring an additional 168 shares in the last quarter. Legacy Financial Group Inc. grew its stake in Cisco Systems by 3.4% during the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after acquiring an additional 169 shares in the last quarter. Finally, Maple Capital Management Inc. grew its stake in Cisco Systems by 1.4% during the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock valued at $709,000 after acquiring an additional 170 shares in the last quarter. Institutional investors own 73.33% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on CSCO shares. New Street Research reiterated a "neutral" rating and issued a $70.00 target price on shares of Cisco Systems in a report on Friday, May 16th. Piper Sandler upped their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Citigroup upped their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Rosenblatt Securities increased their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Insider Activity at Cisco Systems

In other news, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the sale, the insider now directly owns 257,162 shares in the company, valued at $16,450,653.14. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total transaction of $48,821.34. Following the sale, the senior vice president now owns 36,937 shares of the company's stock, valued at approximately $2,366,553.59. This trade represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,931 shares of company stock worth $4,671,930 over the last 90 days. Company insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

NASDAQ:CSCO traded down $1.01 during trading hours on Friday, reaching $64.09. 14,630,776 shares of the company's stock were exchanged, compared to its average volume of 20,161,810. The firm has a market capitalization of $253.80 billion, a price-to-earnings ratio of 27.99, a P/E/G ratio of 4.16 and a beta of 0.88. The company has a 50-day moving average of $60.47 and a 200 day moving average of $60.57. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter last year, the business earned $0.88 EPS. The business's revenue was up 11.4% on a year-over-year basis. Research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

Cisco Systems Company 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.