Fiduciary Financial Group LLC Sells 1,490 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Fiduciary Financial Group LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 10,186 shares of the network equipment provider’s stock after selling 1,490 shares during the period. Fiduciary Financial Group LLC’s holdings in Cisco Systems were worth $576,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CSCO. Tallon Kerry Patrick purchased a new position in Cisco Systems in the fourth quarter worth about $603,000. Brighton Jones LLC boosted its position in Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after purchasing an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after purchasing an additional 2,474 shares during the last quarter. WCM Investment Management LLC boosted its position in Cisco Systems by 152.6% in the fourth quarter. WCM Investment Management LLC now owns 88,025 shares of the network equipment provider’s stock worth $5,210,000 after purchasing an additional 53,183 shares during the last quarter. Finally, Quotient Wealth Partners LLC boosted its position in Cisco Systems by 27.6% in the fourth quarter. Quotient Wealth Partners LLC now owns 10,703 shares of the network equipment provider’s stock worth $634,000 after purchasing an additional 2,312 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the sale, the chief executive officer now directly owns 688,409 shares in the company, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was 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 owns 44,155 shares of the company’s stock, valued at $2,693,013.45. This represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,400 shares of company stock worth $4,564,439 in the last quarter. 0.01% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CSCO has been the topic of several research reports. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. New Street Research reissued a “neutral” rating and issued a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Piper Sandler raised their price objective on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. raised their price objective on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, May 15th. Finally, 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. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $65.90 on Tuesday. The stock has a market cap 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. 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 stock has a 50 day moving average price of $59.69 and a 200-day moving average price of $60.43. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50.

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 analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. Equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Cisco Systems Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s payout ratio is currently 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.