Truist Financial Corp Raises Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Truist Financial Corp increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 42.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,507,169 shares of the network equipment provider's stock after purchasing an additional 1,048,891 shares during the quarter. Truist Financial Corp owned 0.09% of Cisco Systems worth $216,427,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. Navigoe LLC acquired a new position in Cisco Systems in the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC acquired a new position in Cisco Systems in the 4th quarter valued at about $26,000. JDM Financial Group LLC raised its stake in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after purchasing an additional 300 shares during the last quarter. Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems in the 4th quarter valued at about $30,000. Finally, Campbell Capital Management Inc. acquired a new position in Cisco Systems in the 4th quarter valued at about $31,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on CSCO. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and boosted their target price for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. JPMorgan Chase & Co. upped their target price on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Finally, Citigroup upped their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.53.

Insider Buying and Selling

In other news, CFO Richard Scott Herren sold 15,678 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the sale, the chief financial officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total value of $154,072.07. Following the completion of the sale, the executive vice president directly owned 177,027 shares of the company's stock, valued at $11,331,498.27. The trade was a 1.34% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is owned by insiders.

Cisco Systems Trading Down 0.6%

CSCO stock traded down $0.44 during trading on Monday, reaching $68.93. 22,606,868 shares of the stock traded hands, compared to its average volume of 20,365,214. The business's 50 day moving average price is $64.18 and its 200-day moving average price is $61.58. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The firm has a market capitalization of $272.96 billion, a PE ratio of 28.13, a P/E/G ratio of 4.15 and a beta of 0.90.

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

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders 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 2.38%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio 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.