Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by UNIVEST FINANCIAL Corp

Key Points

• UNIVEST FINANCIAL Corp decreased its stake in Cisco Systems by 19.2% during the 1st quarter, selling 10,806 shares and now holding 45,409 shares valued at approximately $2.8 million.
• Cisco reported a $0.96 EPS for the latest quarter, exceeding analyst expectations of $0.92, with revenues reaching $14.15 billion, up 11.4% year-over-year.
• The company declared a quarterly dividend of $0.41 per share, which represents an annual yield of 2.4% with a payout ratio of 66.94%.

UNIVEST FINANCIAL Corp lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 19.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,409 shares of the network equipment provider's stock after selling 10,806 shares during the quarter. UNIVEST FINANCIAL Corp's holdings in Cisco Systems were worth $2,802,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Brighton Jones LLC increased its stake in Cisco Systems by 49.5% during the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock worth $4,392,000 after buying an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Cisco Systems by 37.0% in the 4th 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 in the last quarter. RFG Bristol Wealth Advisors LLC purchased a new position in Cisco Systems in the 4th quarter worth approximately $294,000. Massachusetts Financial Services Co. MA raised its position in shares of Cisco Systems by 39.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 440,169 shares of the network equipment provider's stock valued at $26,058,000 after buying an additional 124,529 shares during the period. Finally, Bryce Point Capital LLC purchased a new stake in shares of Cisco Systems during the 4th quarter valued at approximately $928,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the sale, the chief executive officer owned 688,409 shares in the company, valued at $44,478,105.49. The trade was a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeetendra I. Patel sold 9,961 shares of the business's stock in a transaction 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 sale, the insider owned 257,162 shares of the company's stock, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their position. 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. Insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CSCO. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. UBS Group upped their target price on shares of Cisco Systems from $70.00 to $74.00 and gave the stock a "neutral" rating in a research note on Tuesday. 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. Evercore ISI restated an "in-line" rating and set a $72.00 target price on shares of Cisco Systems in a research note on Monday, July 28th. Finally, Morgan Stanley upped their target price on shares of Cisco Systems from $67.00 to $70.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Eight analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and an average price target of $70.55.

Cisco Systems Stock Down 1.3%

Shares of CSCO stock traded down $0.91 on Tuesday, hitting $67.58. The stock had a trading volume of 7,537,233 shares, compared to its average volume of 21,098,736. The firm has a market capitalization of $267.62 billion, a price-to-earnings ratio of 27.61, a P/E/G ratio of 3.76 and a beta of 0.91. The stock's 50 day moving average is $66.98 and its 200-day moving average is $62.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the prior year, the firm posted $0.88 EPS. The firm's revenue was up 11.4% compared to the same quarter last year. As a group, research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Thursday, July 3rd. Cisco Systems's dividend payout ratio is 66.94%.

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.