Value Partners Investments Inc. reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 87.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,898 shares of the network equipment provider's stock after selling 90,431 shares during the quarter. Value Partners Investments Inc.'s holdings in Cisco Systems were worth $797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Kavar Capital Partners Group LLC lifted its stake in Cisco Systems by 3.1% during the 1st quarter. Kavar Capital Partners Group LLC now owns 6,984 shares of the network equipment provider's stock valued at $431,000 after acquiring an additional 209 shares during the period. Aspetuck Financial Management LLC bought a new position in Cisco Systems during the first quarter valued at approximately $613,000. Pure Financial Advisors LLC lifted its position in Cisco Systems by 38.6% during the first quarter. Pure Financial Advisors LLC now owns 16,969 shares of the network equipment provider's stock valued at $1,047,000 after purchasing an additional 4,722 shares during the period. Omnia Family Wealth LLC boosted its holdings in Cisco Systems by 48.1% in the first quarter. Omnia Family Wealth LLC now owns 5,228 shares of the network equipment provider's stock worth $323,000 after purchasing an additional 1,699 shares during the last quarter. Finally, Live Oak Investment Partners grew its position in Cisco Systems by 1.8% in the 1st quarter. Live Oak Investment Partners now owns 16,763 shares of the network equipment provider's stock worth $1,034,000 after purchasing an additional 303 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.
Cisco Systems Price Performance
CSCO traded down $0.30 on Friday, hitting $68.65. 26,213,514 shares of the company's stock traded hands, compared to its average volume of 20,235,237. The company's 50 day simple moving average is $62.57 and its 200-day simple moving average is $61.10. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.22. The firm has a market cap of $271.85 billion, a price-to-earnings ratio of 28.02, a P/E/G ratio of 4.10 and a beta of 0.88.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $14.05 billion. During the same quarter last year, the business posted $0.88 earnings per share. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.
Cisco Systems Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.39%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is currently 66.94%.
Insider Buying and Selling at Cisco Systems
In other news, SVP Maria Victoria Wong sold 4,185 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total transaction of $265,789.35. Following the completion of the transaction, the senior vice president now directly owns 38,103 shares in the company, valued at approximately $2,419,921.53. This represents a 9.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeetendra I. Patel sold 9,961 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the sale, the insider now owns 257,162 shares in the company, valued at $16,450,653.14. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock valued at $6,271,054 in the last 90 days. Insiders own 0.01% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on CSCO shares. Citigroup raised their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Piper Sandler boosted their price target on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Evercore ISI upped their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Rosenblatt Securities upped their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $69.53.
Read Our Latest Report on Cisco Systems
About Cisco Systems
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Free Report)
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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