Investment Partners LTD. Cuts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Investment Partners LTD. decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,638 shares of the network equipment provider’s stock after selling 759 shares during the quarter. Investment Partners LTD.’s holdings in Cisco Systems were worth $903,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock valued at $4,392,000 after purchasing an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in Cisco Systems by 37.0% during the 4th 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 period. Proficio Capital Partners LLC increased its holdings in shares of Cisco Systems by 76.4% in the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock valued at $1,003,000 after acquiring an additional 7,338 shares during the last quarter. Rialto Wealth Management LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at about $55,000. Finally, Argentarii LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at about $268,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $68.93 on Tuesday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $69.78. The business has a fifty day simple moving average of $64.18 and a 200 day simple moving average of $61.58. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The firm has a market cap of $272.96 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 4.15 and a beta of 0.90.

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

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s payout ratio is currently 66.94%.

Insiders Place Their Bets

In related news, CFO Richard Scott Herren sold 15,678 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer owned 309,543 shares in the company, valued at $20,281,257.36. The trade was a 4.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the transaction, the chief executive officer owned 688,409 shares of the company’s stock, valued at $44,478,105.49. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock worth $6,271,054 over the last ninety days. 0.01% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Piper Sandler increased their price objective on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. New Street Research reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Evercore ISI increased their price objective on Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. 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. Finally, Wells Fargo & Company raised Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Seven equities 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $69.53.

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.