Syntax Research Inc. Sells 643 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Syntax Research Inc. decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 18.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,938 shares of the network equipment provider’s stock after selling 643 shares during the period. Syntax Research Inc.’s holdings in Cisco Systems were worth $181,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after buying an additional 13,285,052 shares in the last quarter. Norges Bank acquired a new stake in shares of Cisco Systems during the fourth quarter worth approximately $3,297,905,000. Northern Trust Corp increased its holdings in shares of Cisco Systems by 11.4% during the fourth quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider’s stock worth $2,796,505,000 after buying an additional 4,832,813 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Cisco Systems by 7.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider’s stock worth $2,159,099,000 after buying an additional 2,637,006 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Cisco Systems by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock worth $1,741,597,000 after buying an additional 681,555 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 29,784 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer owned 688,409 shares in the company, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were 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 owned 181,186 shares in the company, valued at approximately $11,505,311. This trade represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 in the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several recent analyst reports. Piper Sandler raised their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. Wolfe Research initiated coverage on shares of Cisco Systems in a report on Tuesday, July 8th. They set a “peer perform” rating for the company. Citigroup raised their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Wall Street Zen lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Cisco Systems from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Seven investment 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’s stock. According to MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $70.35.

Cisco Systems Stock Down 0.5%

Cisco Systems stock opened at $68.29 on Friday. The firm has a market capitalization of $270.43 billion, a PE ratio of 27.87, a P/E/G ratio of 4.11 and a beta of 0.90. The company’s 50-day moving average is $66.33 and its 200-day moving average is $62.35. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week 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.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 EPS. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were paid a $0.41 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.40%. Cisco Systems’s dividend payout ratio (DPR) is currently 66.94%.

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.