Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% in the 1st quarter, HoldingsChannel reports. The fund owned 91,833 shares of the network equipment provider’s stock after selling 295 shares during the period. Gilman Hill Asset Management LLC’s holdings in Cisco Systems were worth $4,583,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC lifted its stake in Cisco Systems by 1,230.9% during the third quarter. V Square Quantitative Management LLC now owns 3,487 shares of the network equipment provider’s stock valued at $187,000 after purchasing an additional 3,225 shares during the last quarter. Pegasus Partners Ltd. lifted its stake in Cisco Systems by 40.5% during the third quarter. Pegasus Partners Ltd. now owns 10,074 shares of the network equipment provider’s stock valued at $542,000 after purchasing an additional 2,906 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Cisco Systems by 4.6% during the third quarter. Parkside Financial Bank & Trust now owns 29,172 shares of the network equipment provider’s stock valued at $1,568,000 after purchasing an additional 1,272 shares during the last quarter. Paragon Private Wealth Management LLC lifted its position in shares of Cisco Systems by 8.6% in the 3rd quarter. Paragon Private Wealth Management LLC now owns 22,344 shares of the network equipment provider’s stock valued at $1,201,000 after acquiring an additional 1,777 shares in the last quarter. Finally, Profund Advisors LLC boosted its stake in Cisco Systems by 19.0% in the 3rd quarter. Profund Advisors LLC now owns 395,306 shares of the network equipment provider’s stock worth $21,252,000 after purchasing an additional 63,064 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,378 shares of Cisco Systems stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total transaction of $155,016.42. Following the sale, the senior vice president now directly owns 52,953 shares in the company, valued at approximately $2,430,013.17. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Maria Victoria Wong sold 3,378 shares of Cisco Systems stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total transaction of $155,016.42. Following the sale, the senior vice president now directly owns 52,953 shares in the company, valued at approximately $2,430,013.17. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the transaction, the chief executive officer now owns 725,363 shares in the company, valued at $33,439,234.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,106 shares of company stock worth $1,908,923. 0.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CSCO shares. Morgan Stanley started coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective for the company. Piper Sandler reissued a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research note on Wednesday, June 5th. JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They set a “neutral” rating and a $53.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Monday, June 10th. Finally, Citigroup began coverage on shares of Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $56.47.

Cisco Systems Stock Performance

CSCO traded up $0.21 during trading on Tuesday, hitting $47.49. The stock had a trading volume of 6,326,710 shares, compared to its average volume of 19,709,432. The firm has a market cap of $191.33 billion, a PE ratio of 16.07, a P/E/G ratio of 2.74 and a beta of 0.86. Cisco Systems, Inc. has a 12 month low of $44.95 and a 12 month high of $58.19. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The company has a 50 day simple moving average of $47.12 and a 200-day simple moving average of $48.84.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. The firm 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%. The business’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. Analysts expect that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 annualized dividend and a dividend yield of 3.37%. Cisco Systems’s payout ratio is 53.87%.

Cisco Systems 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.