Pflug Koory LLC Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Pflug Koory LLC cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 32,559 shares of the network equipment provider’s stock after selling 467 shares during the period. Cisco Systems accounts for 1.1% of Pflug Koory LLC’s investment portfolio, making the stock its 18th largest holding. Pflug Koory LLC’s holdings in Cisco Systems were worth $2,009,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its holdings in shares of Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after buying an additional 13,285,052 shares in the last quarter. Norges Bank bought a new stake in Cisco Systems during the 4th quarter worth approximately $3,297,905,000. Northern Trust Corp lifted its stake in Cisco Systems by 11.4% in the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider’s stock worth $2,796,505,000 after purchasing an additional 4,832,813 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Cisco Systems by 7.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider’s stock valued at $2,159,099,000 after purchasing an additional 2,637,006 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Cisco Systems by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock valued at $1,741,597,000 after purchasing an additional 681,555 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 4,185 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total transaction of $265,789.35. Following the completion of the transaction, the senior vice president now owns 38,103 shares of the company’s stock, valued at $2,419,921.53. This represents a 9.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Oliver Tuszik sold 15,000 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total value of $952,950.00. Following the completion of the sale, the executive vice president now owns 131,676 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 72,931 shares of company stock worth $4,671,930. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Stock Down 1.6%

CSCO opened at $64.09 on Monday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. 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 business’s 50-day moving average price is $60.47 and its 200-day moving average price is $60.58. The company has a market cap of $253.80 billion, a P/E ratio of 27.99, a P/E/G ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly 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. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same period last year, the company earned $0.88 EPS. Cisco Systems’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of recent analyst reports. Citigroup increased their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Piper Sandler raised their price target on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Wall Street Zen raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Evercore ISI upped their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Finally, Rosenblatt Securities lifted their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Eight 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, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

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.