Murphy Pohlad Asset Management LLC Reduces Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Murphy Pohlad Asset Management LLC decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,508 shares of the network equipment provider’s stock after selling 840 shares during the period. Cisco Systems accounts for about 1.7% of Murphy Pohlad Asset Management LLC’s holdings, making the stock its 18th biggest position. Murphy Pohlad Asset Management LLC’s holdings in Cisco Systems were worth $3,919,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new position in Cisco Systems in the 4th quarter worth approximately $26,000. Navigoe LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth $26,000. Mpwm Advisory Solutions LLC bought a new position in shares of Cisco Systems in the fourth quarter worth $26,000. JDM Financial Group LLC grew its position in shares of Cisco Systems by 160.4% in the fourth 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. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Cisco Systems during the 4th quarter valued at $30,000. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, insider Jeetendra I. Patel sold 9,961 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the transaction, the insider now owns 257,162 shares in the company, valued at approximately $16,450,653.14. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Oliver Tuszik sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the sale, the executive vice president now owns 131,676 shares of the company’s stock, valued at $8,365,376.28. This represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,931 shares of company stock worth $4,671,930 over the last three months. Company insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Evercore ISI raised their target price on Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Rosenblatt Securities increased their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Piper Sandler boosted 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. JPMorgan Chase & Co. upped their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.00.

Cisco Systems Price Performance

CSCO opened at $64.09 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $253.80 billion, a P/E ratio of 27.99, a PEG ratio of 4.16 and a beta of 0.88. The stock has a 50-day moving average price of $60.47 and a 200-day moving average price of $60.58. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50.

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

Cisco Systems Dividend Announcement

The firm 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 2.56%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is presently 66.94%.

Cisco Systems Company Profile

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.