Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Dividend Assets Capital LLC

Dividend Assets Capital LLC cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,251 shares of the network equipment provider’s stock after selling 478 shares during the quarter. Dividend Assets Capital LLC’s holdings in Cisco Systems were worth $447,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CSCO. Parsons Capital Management Inc. RI lifted its stake in Cisco Systems by 3.6% in the first quarter. Parsons Capital Management Inc. RI now owns 183,955 shares of the network equipment provider’s stock valued at $11,352,000 after acquiring an additional 6,421 shares during the last quarter. Sonora Investment Management Group LLC boosted its position in shares of Cisco Systems by 1.9% during the first quarter. Sonora Investment Management Group LLC now owns 351,986 shares of the network equipment provider’s stock worth $21,721,000 after buying an additional 6,501 shares during the period. Simplicity Wealth LLC boosted its holdings in shares of Cisco Systems by 405.2% in the 1st quarter. Simplicity Wealth LLC now owns 39,029 shares of the network equipment provider’s stock valued at $2,409,000 after purchasing an additional 31,303 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Cisco Systems by 16.6% during the first quarter. GAMMA Investing LLC now owns 108,871 shares of the network equipment provider’s stock worth $6,718,000 after purchasing an additional 15,514 shares during the period. Finally, Wealthcare Advisory Partners LLC increased its stake in Cisco Systems by 6.3% in the first quarter. Wealthcare Advisory Partners LLC now owns 79,471 shares of the network equipment provider’s stock valued at $4,904,000 after purchasing an additional 4,742 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CSCO shares. UBS Group raised their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Finally, Piper Sandler boosted their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Cisco Systems Trading Down 0.2%

Shares of NASDAQ:CSCO opened at $65.90 on Tuesday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The business’s 50 day moving average price is $59.69 and its 200-day moving average price is $60.43. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The firm has a market capitalization of $260.96 billion, a price-to-earnings ratio of 28.78, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 earnings per share. On average, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems declared that its board has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the sale, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at $2,693,013.45. The trade was a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,400 shares of company stock worth $4,564,439. 0.01% of the stock is owned by corporate insiders.

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.