Talbot Financial LLC Has $11.45 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Talbot Financial LLC reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,526 shares of the network equipment provider's stock after selling 5,604 shares during the quarter. Cisco Systems comprises approximately 1.4% of Talbot Financial LLC's holdings, making the stock its 28th largest position. Talbot Financial LLC's holdings in Cisco Systems were worth $11,449,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems in the 4th quarter worth about $26,000. Navigoe LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $26,000. JDM Financial Group LLC boosted its position in shares of Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after buying an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new position in Cisco Systems in the 4th quarter worth approximately $30,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CSCO. JPMorgan Chase & Co. boosted their price target on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Evercore ISI lifted their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Finally, Piper Sandler increased their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares in the company, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 4,185 shares of Cisco Systems stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $63.51, for a total transaction of $265,789.35. Following the sale, the senior vice president now directly owns 38,103 shares of the company's stock, valued at $2,419,921.53. This trade represents a 9.90% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,616 shares of company stock valued at $2,640,095. Company insiders own 0.01% of the company's stock.

Cisco Systems Trading Up 0.4%

Shares of NASDAQ:CSCO traded up $0.24 during midday trading on Thursday, reaching $64.63. The company had a trading volume of 8,582,968 shares, compared to its average volume of 21,721,416. The company has a fifty day simple moving average of $59.47 and a two-hundred day simple moving average of $60.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The firm has a market cap of $255.93 billion, a price-to-earnings ratio of 28.22, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. 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 announced 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 period last year, the company posted $0.88 earnings per share. The business's revenue for the quarter was up 11.4% on a year-over-year basis. Research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued 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 dividend yield of 2.54%. Cisco Systems's dividend payout ratio is 66.94%.

Cisco Systems announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

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.