UNIVEST FINANCIAL Corp Sells 10,806 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

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 trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 19.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CSCO. Navigoe LLC bought a new stake in Cisco Systems during the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems during the 4th quarter valued at about $26,000. JDM Financial Group LLC increased its stake in Cisco Systems by 160.4% during 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 in the last quarter. Fairway Wealth LLC increased its stake in Cisco Systems by 224.7% during the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock valued at $36,000 after purchasing an additional 400 shares in the last quarter. Finally, Investment Management Corp VA ADV increased its stake in Cisco Systems by 145.3% during the 1st quarter. Investment Management Corp VA ADV now owns 596 shares of the network equipment provider's stock valued at $37,000 after purchasing an additional 353 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Performance

CSCO opened at $68.08 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The company has a market cap of $269.60 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 4.08 and a beta of 0.90. The company's 50 day moving average is $66.79 and its 200 day moving average is $62.66. 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 posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm's revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 earnings per share. On average, equities research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

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

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the transaction, the chief financial officer owned 309,543 shares of the company's stock, valued at $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 688,409 shares in the company, valued at $44,478,105.49. This represents a 4.15% 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 currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on CSCO. KeyCorp began coverage on shares of Cisco Systems in a research note on Thursday, June 26th. They set an "overweight" rating and a $77.00 price objective for the company. Piper Sandler raised their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Citigroup raised their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. CICC Research initiated coverage on shares of Cisco Systems in a report on Monday, July 14th. They set an "outperform" rating and a $78.00 price target on the stock. Finally, Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems presently has a consensus rating of "Moderate Buy" and an average price target of $70.35.

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.

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