Mitchell Sinkler & Starr PA Has $1.83 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Mitchell Sinkler & Starr PA reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,626 shares of the network equipment provider’s stock after selling 195 shares during the quarter. Mitchell Sinkler & Starr PA’s holdings in Cisco Systems were worth $1,828,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CSCO. FMR LLC grew its stake in shares of Cisco Systems by 20.8% in the fourth 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. Pacer Advisors Inc. raised its stake in Cisco Systems by 1,144.2% during the 1st quarter. Pacer Advisors Inc. now owns 8,120,886 shares of the network equipment provider’s stock valued at $501,140,000 after purchasing an additional 7,468,212 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in Cisco Systems in the 4th quarter valued at $413,491,000. GAMMA Investing LLC grew its position in 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 during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Cisco Systems by 187.9% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider’s stock worth $442,749,000 after purchasing an additional 4,880,747 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Up 0.6%

NASDAQ CSCO opened at $68.69 on Friday. The stock’s 50 day simple moving average is $66.43 and its 200 day simple moving average is $62.44. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78. The firm has a market cap of $272.01 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 4.11 and a beta of 0.90. 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 (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $14.05 billion. During the same quarter in the previous year, the firm earned $0.88 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Thursday, July 3rd. Cisco Systems’s dividend payout ratio is currently 66.94%.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 8,726 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the transaction, the executive vice president directly owned 174,669 shares in the company, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Scott Herren sold 15,678 shares of the firm’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 transaction of $1,027,222.56. Following the completion of the sale, the chief financial officer directly owned 309,543 shares of the company’s stock, valued at approximately $20,281,257.36. This represents a 4.82% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,335 shares of company stock worth $6,271,054. Corporate insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CSCO shares. KeyCorp began coverage on shares of Cisco Systems in a research note on Thursday, June 26th. They issued an “overweight” rating and a $77.00 target price for the company. Morgan Stanley raised their price objective on Cisco Systems from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $65.00 to $73.00 in a report on Monday, June 16th. New Street Research reaffirmed a “neutral” rating and issued a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Finally, Piper Sandler lifted their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.35.

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.