Xponance Inc. Lowers Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Xponance Inc. lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 656,648 shares of the network equipment provider's stock after selling 22,048 shares during the quarter. Xponance Inc.'s holdings in Cisco Systems were worth $40,522,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSCO. Glass Jacobson Investment Advisors llc boosted its position in Cisco Systems by 8.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock valued at $123,000 after buying an additional 166 shares during the last quarter. BlackDiamond Wealth Management LLC boosted its position in Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock valued at $335,000 after buying an additional 168 shares during the last quarter. Legacy Financial Group Inc. boosted its position in Cisco Systems by 3.4% in the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after buying an additional 169 shares during the last quarter. Capital Advantage Inc. boosted its position in Cisco Systems by 1.0% in the 4th quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider's stock valued at $1,028,000 after buying an additional 172 shares during the last quarter. Finally, Lynx Investment Advisory lifted its stake in shares of Cisco Systems by 3.9% in the 4th quarter. Lynx Investment Advisory now owns 4,593 shares of the network equipment provider's stock valued at $272,000 after purchasing an additional 174 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Trading Down 1.2%

Shares of Cisco Systems stock traded down $0.81 during trading on Friday, hitting $67.95. The stock had a trading volume of 14,698,247 shares, compared to its average volume of 20,363,229. The firm's fifty day simple moving average is $65.02 and its 200-day simple moving average is $61.81. The stock has a market cap of $269.08 billion, a PE ratio of 27.73, a PEG ratio of 4.11 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. 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 earnings results 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 business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter last year, the firm posted $0.88 EPS. The company's revenue for the quarter was up 11.4% on a year-over-year basis. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 15,678 shares of the stock in a transaction dated 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 sale, the chief financial officer owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. This represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total transaction of $154,072.07. Following the sale, the executive vice president directly owned 177,027 shares in the company, valued at $11,331,498.27. This represents 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 company insiders.

Analysts Set New Price Targets

Several analysts recently commented on CSCO shares. Evercore ISI raised their price objective on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. New Street Research reaffirmed a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a research note on Friday, May 16th. JPMorgan Chase & Co. lifted their price target on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and lifted their price target for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Finally, Piper Sandler raised their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $69.53.

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.