Sumitomo Mitsui Trust Holdings Inc. Sells 200,703 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,738,629 shares of the network equipment provider’s stock after selling 200,703 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.29% of Cisco Systems worth $585,875,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Valued Wealth Advisors LLC purchased a new stake in shares of Cisco Systems during the 4th quarter worth $32,000. Delos Wealth Advisors LLC raised its holdings in Cisco Systems by 1,666.7% in the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after purchasing an additional 600 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Cisco Systems during the fourth quarter valued at about $33,000. Morton Brown Family Wealth LLC boosted its holdings in shares of Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 208 shares in the last quarter. Finally, Bourgeon Capital Management LLC grew its position in shares of Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after buying an additional 700 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the transaction, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the sale, the executive vice president now owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was 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 directly 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 quarter, insiders sold 41,106 shares of company stock valued at $1,908,923. 0.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CSCO has been the subject of several recent analyst reports. Oppenheimer raised their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Piper Sandler reissued a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research report on Wednesday, June 5th. Morgan Stanley assumed coverage on Cisco Systems in a research report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price on the stock. Citigroup began coverage on Cisco Systems in a report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $56.47.

Cisco Systems Stock Performance

CSCO traded down $0.13 on Wednesday, reaching $47.15. The stock had a trading volume of 1,234,915 shares, compared to its average volume of 19,602,814. The business’s 50-day moving average price is $47.05 and its two-hundred day moving average price is $48.77. The company has a market cap of $189.96 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 2.75 and a beta of 0.85. 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.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same quarter in the prior year, the firm posted $0.88 EPS. Cisco Systems’s quarterly revenue was down 12.8% compared to the same quarter last year. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.39%. Cisco Systems’s dividend payout ratio is currently 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.