Norris Perne & French LLP MI Has $328,000 Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Norris Perne & French LLP MI lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,317 shares of the network equipment provider’s stock after selling 385 shares during the period. Norris Perne & French LLP MI’s holdings in Cisco Systems were worth $328,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CSCO. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter worth $26,000. Navigoe LLC acquired a new position in Cisco Systems during the 4th quarter worth $26,000. Mpwm Advisory Solutions LLC acquired a new position in Cisco Systems during the 4th quarter worth $26,000. JDM Financial Group LLC boosted its holdings in Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after acquiring an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter valued at about $30,000. 73.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction dated 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 $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the sale, the executive vice president now directly owns 181,186 shares of the company’s stock, valued at $11,505,311. This represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,931 shares of company stock valued at $4,671,930. Insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 0.8%

CSCO stock opened at $65.84 on Thursday. The business has a fifty day moving average price of $61.02 and a 200 day moving average price of $60.69. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The stock has a market capitalization of $260.73 billion, a price-to-earnings ratio of 26.87, a P/E/G ratio of 3.91 and a beta of 0.88.

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. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.49%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s payout ratio is presently 66.94%.

Analysts Set New Price Targets

Several analysts recently weighed in on CSCO shares. Barclays restated an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. New Street Research reiterated a “neutral” rating and issued a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. 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. Piper Sandler raised their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.11.

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.