Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Wernau Asset Management Inc.

Wernau Asset Management Inc. reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,837 shares of the network equipment provider’s stock after selling 232 shares during the period. Cisco Systems accounts for about 1.2% of Wernau Asset Management Inc.’s holdings, making the stock its 15th biggest holding. Wernau Asset Management Inc.’s holdings in Cisco Systems were worth $1,533,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Navigoe LLC acquired a new stake in shares of Cisco Systems during the fourth quarter valued at about $26,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Cisco Systems during the fourth quarter valued at about $26,000. JDM Financial Group LLC increased its position in shares of Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after acquiring an additional 300 shares during the last quarter. Fairway Wealth LLC increased its position in shares of Cisco Systems by 224.7% during the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 400 shares during the last quarter. Finally, Accredited Wealth Management LLC acquired a new stake in shares of Cisco Systems during the fourth quarter valued at about $37,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Piper Sandler lifted their price target 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. Evercore ISI lifted their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Rosenblatt Securities lifted their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. raised their price objective on shares of Cisco Systems from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Finally, CICC Research assumed coverage on shares of Cisco Systems in a research note on Monday, July 14th. They issued an “outperform” rating and a $78.00 price objective for the company. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.35.

Cisco Systems Stock Down 0.5%

Shares of Cisco Systems stock opened at $68.29 on Friday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78. The company has a 50 day moving average of $66.33 and a 200 day moving average of $62.35. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $270.43 billion, a P/E ratio of 27.87, a P/E/G ratio of 4.11 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, topping 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 quarter in the previous year, the firm earned $0.88 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.40%. Cisco Systems’s dividend payout ratio is presently 66.94%.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of the sale, the senior vice president owned 36,937 shares in the company, valued at approximately $2,366,553.59. The trade was a 2.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total transaction of $154,072.07. Following the sale, the executive vice president owned 177,027 shares of the company’s stock, valued at $11,331,498.27. This represents a 1.34% 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. 0.01% of the stock is owned by insiders.

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.