DSG Capital Advisors LLC Reduces Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

DSG Capital Advisors LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.7% in the first quarter, HoldingsChannel reports. The firm owned 10,250 shares of the network equipment provider’s stock after selling 500 shares during the quarter. DSG Capital Advisors LLC’s holdings in Cisco Systems were worth $633,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank bought a new stake in Cisco Systems during the fourth quarter valued at approximately $3,297,905,000. FMR LLC boosted its stake in shares of Cisco Systems by 20.8% during the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after acquiring an additional 13,285,052 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Cisco Systems during the 4th quarter valued at $560,722,000. Alyeska Investment Group L.P. bought a new stake in shares of Cisco Systems during the 4th quarter valued at $413,491,000. Finally, GAMMA Investing LLC increased its stake in shares of Cisco Systems by 7,096.5% in the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider’s stock worth $414,593,000 after purchasing an additional 6,625,045 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 1.1%

Shares of CSCO stock opened at $69.38 on Tuesday. The company’s fifty day simple moving average is $62.87 and its two-hundred day simple moving average is $61.19. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $69.78. The stock has a market cap of $274.74 billion, a P/E ratio of 28.32, a PEG ratio of 4.11 and a beta of 0.88. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50.

Cisco Systems (NASDAQ:CSCO) last issued its 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. The firm had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business’s revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 earnings per share. Analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.36%. Cisco Systems’s dividend payout ratio (DPR) is 66.94%.

Insider Activity

In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the transaction, the chief financial officer owned 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of Cisco Systems stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the transaction, the executive vice president directly owned 181,186 shares of the company’s stock, valued at $11,505,311. The trade was a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Evercore ISI lifted their price objective on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Piper Sandler boosted their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the stock from $65.00 to $73.00 in a research note on Monday, June 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average price target of $69.53.

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.