TFC Financial Management Inc. Lowers Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

TFC Financial Management Inc. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 14.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,986 shares of the network equipment provider’s stock after selling 690 shares during the quarter. TFC Financial Management Inc.’s holdings in Cisco Systems were worth $246,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Mainstream Capital Management LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at $132,000. Proficio Capital Partners LLC boosted its position in Cisco Systems by 76.4% during the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock valued at $1,003,000 after purchasing an additional 7,338 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Cisco Systems by 28.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider’s stock valued at $249,180,000 after purchasing an additional 904,548 shares during the last quarter. Investment Management Corp of Ontario raised its holdings in Cisco Systems by 44.6% in the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock worth $11,454,000 after purchasing an additional 59,680 shares in the last quarter. Finally, AlTi Global Inc. lifted its position in shares of Cisco Systems by 49.8% during the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider’s stock valued at $1,217,000 after buying an additional 6,811 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CSCO. Morgan Stanley reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. KeyCorp began coverage on shares of Cisco Systems in a report on Thursday. They issued an “overweight” rating and a $77.00 price target on the stock. Citigroup increased their price objective on Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. Finally, Piper Sandler upped their target price on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and an average price target of $69.53.

Cisco Systems Stock Performance

CSCO opened at $68.95 on Friday. The firm has a 50 day moving average of $62.31 and a two-hundred day moving average of $61.02. The firm has a market capitalization of $273.04 billion, a PE ratio of 28.14, a P/E/G ratio of 4.08 and a beta of 0.88. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.25.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the previous year, the firm posted $0.88 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. On average, analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

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 paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.38%. Cisco Systems’s payout ratio is 66.94%.

Insider Buying and Selling

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 9,643 shares of the company’s 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Richard Scott Herren sold 15,678 shares of the firm’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the sale, the chief financial officer now owns 309,543 shares in the company, valued at $20,281,257.36. This trade represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock valued at $6,271,054 over the last ninety days. Company insiders own 0.01% of the company’s stock.

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.