Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by TruWealth Advisors LLC

TruWealth Advisors LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 16.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 357,860 shares of the network equipment provider's stock after selling 69,057 shares during the quarter. Cisco Systems makes up approximately 1.3% of TruWealth Advisors LLC's holdings, making the stock its 25th biggest holding. TruWealth Advisors LLC's holdings in Cisco Systems were worth $22,083,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CSCO. Glass Jacobson Investment Advisors llc lifted its holdings in 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 buying an additional 166 shares during the period. Fairhaven Wealth Management LLC lifted its stake in shares of 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 worth $449,000 after purchasing an additional 167 shares during the last quarter. BlackDiamond Wealth Management LLC boosted its position in Cisco Systems by 3.1% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock valued at $335,000 after purchasing an additional 168 shares in the last quarter. Legacy Financial Group Inc. grew its stake in Cisco Systems by 3.4% in the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after purchasing an additional 169 shares during the last quarter. Finally, Maple Capital Management Inc. raised its holdings in Cisco Systems by 1.4% in the fourth quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock worth $709,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded up $0.23 on Thursday, reaching $64.62. The company's stock had a trading volume of 17,001,251 shares, compared to its average volume of 20,148,370. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The stock has a market capitalization of $255.90 billion, a P/E ratio of 28.22, a PEG ratio of 4.16 and a beta of 0.88. The stock's 50-day moving average is $59.47 and its two-hundred day moving average is $60.22. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

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. The company had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business's revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $0.88 EPS. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.41 dividend. 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 2.54%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems announced that its board has approved a share repurchase 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 generally an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Piper Sandler lifted their price objective 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. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Wall Street Zen raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. DZ Bank raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.00.

Insider Activity

In other Cisco Systems news, EVP Oliver Tuszik sold 15,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the transaction, the executive vice president now directly owns 131,676 shares in the company, valued at approximately $8,365,376.28. This represents a 10.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president now owns 191,184 shares of the company's stock, valued at $11,604,868.80. The trade was a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,616 shares of company stock worth $2,640,095. Company insiders own 0.01% of the company's stock.

About Cisco Systems

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.