Jacobs & Co. CA Sells 6,257 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Jacobs & Co. CA trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.6% during the first quarter, HoldingsChannel.com reports. The fund owned 89,254 shares of the network equipment provider’s stock after selling 6,257 shares during the quarter. Jacobs & Co. CA’s holdings in Cisco Systems were worth $5,507,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tallon Kerry Patrick acquired a new position in Cisco Systems during the 4th quarter worth $603,000. Brighton Jones LLC grew its position in shares of Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock valued at $4,392,000 after purchasing an additional 24,562 shares during the period. Exchange Traded Concepts LLC increased its stake in Cisco Systems by 60.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 8,219 shares of the network equipment provider’s stock worth $487,000 after purchasing an additional 3,093 shares in the last quarter. Foundations Investment Advisors LLC raised its holdings in Cisco Systems by 5.4% during the 4th quarter. Foundations Investment Advisors LLC now owns 27,086 shares of the network equipment provider’s stock worth $1,604,000 after buying an additional 1,387 shares during the period. Finally, Griffin Asset Management Inc. lifted its stake in Cisco Systems by 16.2% in the fourth quarter. Griffin Asset Management Inc. now owns 9,059 shares of the network equipment provider’s stock valued at $536,000 after buying an additional 1,260 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CSCO shares. Rosenblatt Securities raised their price objective 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 target price on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. The Goldman Sachs Group lifted their target price on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Insider Buying and Selling

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction 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 transaction, the executive vice president now owns 191,184 shares in the company, valued at approximately $11,604,868.80. This trade represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of Cisco Systems stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.50, for a total value of $612,330.50. Following the completion of the transaction, the executive vice president now owns 181,186 shares in the company, valued at approximately $11,505,311. This represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,431 shares of company stock worth $1,421,356. Company insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $63.34 on Thursday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The firm’s 50-day simple moving average is $59.22 and its 200 day simple moving average is $60.04. The firm has a market cap of $250.83 billion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 4.16 and a beta of 0.89.

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

Cisco Systems Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 66.94%.

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

Cisco Systems 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.