Dividend Assets Capital LLC Has $447,000 Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Dividend Assets Capital LLC cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 7,251 shares of the network equipment provider’s stock after selling 478 shares during the period. Dividend Assets Capital LLC’s holdings in Cisco Systems were worth $447,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tallon Kerry Patrick purchased a new stake in Cisco Systems during the 4th quarter valued at $603,000. Brighton Jones LLC raised its holdings in shares of Cisco Systems by 49.5% during the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after acquiring an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Cisco Systems by 37.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock valued at $542,000 after purchasing an additional 2,474 shares during the last quarter. WCM Investment Management LLC boosted its stake in shares of Cisco Systems by 152.6% during the fourth quarter. WCM Investment Management LLC now owns 88,025 shares of the network equipment provider’s stock valued at $5,210,000 after purchasing an additional 53,183 shares during the period. Finally, Quotient Wealth Partners LLC lifted its stake in shares of Cisco Systems by 27.6% during the 4th quarter. Quotient Wealth Partners LLC now owns 10,703 shares of the network equipment provider’s stock worth $634,000 after purchasing an additional 2,312 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CSCO shares. Rosenblatt Securities raised their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. New Street Research reiterated a “neutral” rating and set a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, Piper Sandler raised their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer now owns 688,409 shares of the company’s stock, valued at $44,478,105.49. This represents a 4.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. The trade was a 1.07% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,400 shares of company stock valued at $4,564,439. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Down 0.2%

CSCO stock opened at $65.90 on Tuesday. The company has a market capitalization of $260.96 billion, a price-to-earnings ratio of 28.78, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average is $59.69 and its two-hundred day moving average is $60.43. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its 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 return on equity of 26.08% and a net margin of 16.96%. The firm had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter last year, the business earned $0.88 earnings per share. The company’s revenue was up 11.4% compared to the same quarter last year. On average, analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s payout ratio is currently 66.94%.

Cisco Systems announced that its board has approved a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

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.