St. James Investment Company LLC Trims Position in Cisco Systems, Inc. (NASDAQ:CSCO)

St. James Investment Company LLC lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 47.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 190,341 shares of the network equipment provider's stock after selling 170,827 shares during the quarter. Cisco Systems comprises about 2.0% of St. James Investment Company LLC's portfolio, making the stock its 17th largest position. St. James Investment Company LLC's holdings in Cisco Systems were worth $11,746,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CSCO. Brighton Jones LLC grew its holdings in shares of Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock worth $4,392,000 after purchasing an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings 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 purchasing an additional 2,474 shares during the last quarter. Meridian Wealth Management LLC grew its holdings in shares of Cisco Systems by 2.9% in the fourth quarter. Meridian Wealth Management LLC now owns 21,563 shares of the network equipment provider's stock worth $1,276,000 after purchasing an additional 611 shares during the last quarter. Synergy Investment Management LLC bought a new position in shares of Cisco Systems in the fourth quarter worth about $36,000. Finally, Exencial Wealth Advisors LLC grew its holdings in shares of Cisco Systems by 0.6% in the fourth quarter. Exencial Wealth Advisors LLC now owns 37,401 shares of the network equipment provider's stock worth $2,214,000 after purchasing an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider directly owned 257,162 shares of the company's stock, valued at approximately $16,450,653.14. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the transaction, the chief financial officer directly owned 309,543 shares of the company's stock, valued at $20,281,257.36. This represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock worth $6,271,054 over the last ninety days. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded up $1.05 during midday trading on Friday, hitting $69.64. The company had a trading volume of 17,973,495 shares, compared to its average volume of 20,328,057. The stock has a market cap of $275.77 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 4.15 and a beta of 0.90. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $63.93 and a 200 day simple moving average of $61.45. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems's revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm posted $0.88 EPS. As a group, analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

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 given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is currently 66.94%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CSCO shares. Wall Street Zen upgraded shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and upped their price target for the stock from $65.00 to $73.00 in a report on Monday, June 16th. Citigroup upped their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Piper Sandler increased their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Finally, Rosenblatt Securities increased their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $69.53.

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.