Davis R M Inc. Sells 1,511 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Davis R M Inc. decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,869 shares of the network equipment provider’s stock after selling 1,511 shares during the quarter. Davis R M Inc.’s holdings in Cisco Systems were worth $903,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wealthspire Advisors LLC lifted its stake in Cisco Systems by 48.1% in the third quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock valued at $3,838,000 after buying an additional 23,194 shares in the last quarter. Roble Belko & Company Inc raised its stake in shares of Cisco Systems by 77.1% in the 4th quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock valued at $324,000 after purchasing an additional 2,788 shares during the period. HBK Sorce Advisory LLC lifted its holdings in shares of Cisco Systems by 0.5% in the third quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock valued at $3,448,000 after purchasing an additional 301 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Cisco Systems during the fourth quarter worth about $28,685,000. Finally, Adage Capital Partners GP L.L.C. grew its holdings in shares of Cisco Systems by 1.1% during the third quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock worth $240,335,000 after buying an additional 49,700 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 1.7 %

CSCO traded up $0.81 during trading on Wednesday, hitting $47.75. The company’s stock had a trading volume of 9,206,802 shares, compared to its average volume of 19,314,684. The firm has a market capitalization of $193.35 billion, a P/E ratio of 15.92, a PEG ratio of 2.15 and a beta of 0.87. Cisco Systems, Inc. has a twelve month low of $46.20 and a twelve month high of $58.19. The stock’s fifty day moving average price is $48.57 and its 200-day moving average price is $49.40. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. Cisco Systems’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 EPS. Analysts anticipate that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.35%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of recent research reports. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price target (up previously from $51.00) on shares of Cisco Systems in a research report on Thursday, May 16th. Citigroup began coverage on Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 price target on the stock. Wells Fargo & Company upped their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $60.00 in a report on Monday, April 15th. Finally, UBS Group raised their target price on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $56.47.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the completion of the sale, the executive vice president now owns 180,705 shares in the company, valued at approximately $8,717,209.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the completion of the sale, the executive vice president now owns 180,705 shares in the company, valued at $8,717,209.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The disclosure for this sale can be found here. Insiders have sold 27,457 shares of company stock valued at $1,358,772 over the last ninety days. 0.02% of the stock is owned by company insiders.

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.