Barry Investment Advisors LLC Sells 3,344 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Barry Investment Advisors LLC reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 148,257 shares of the network equipment provider’s stock after selling 3,344 shares during the quarter. Cisco Systems accounts for about 2.4% of Barry Investment Advisors LLC’s holdings, making the stock its 11th biggest holding. Barry Investment Advisors LLC’s holdings in Cisco Systems were worth $9,149,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its stake in Cisco Systems by 49.5% during the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after purchasing an additional 24,562 shares during the period. Revolve Wealth Partners LLC lifted its stake 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 valued at $542,000 after acquiring an additional 2,474 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in Cisco Systems by 76.4% during 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 in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Cisco Systems by 17.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 156,043 shares of the network equipment provider’s stock worth $9,238,000 after purchasing an additional 23,250 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Cisco Systems by 21.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 16,427 shares of the network equipment provider’s stock worth $972,000 after purchasing an additional 2,863 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer owned 688,409 shares in the company, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Oliver Tuszik sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the sale, the executive vice president owned 131,676 shares in the company, valued at approximately $8,365,376.28. The trade was a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock worth $6,271,054 over the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $68.76 on Friday. The stock’s 50 day simple moving average is $64.84 and its two-hundred day simple moving average is $61.75. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $69.78. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The company has a market cap of $272.29 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 4.14 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data 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. The company had revenue of $14.15 billion during 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%. Cisco Systems’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 EPS. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s payout ratio is 66.94%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CSCO. Piper Sandler upped their price target on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. New Street Research reaffirmed a “neutral” rating and issued a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. Rosenblatt Securities increased their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. KeyCorp initiated coverage on Cisco Systems in a research note on Thursday, June 26th. They set an “overweight” rating and a $77.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.53.

About Cisco Systems

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.