One Day In July LLC Reduces Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

One Day In July LLC lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,266 shares of the network equipment provider’s stock after selling 329 shares during the period. One Day In July LLC’s holdings in Cisco Systems were worth $202,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Glass Jacobson Investment Advisors llc increased its position in shares of Cisco Systems by 8.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock worth $123,000 after purchasing an additional 166 shares during the last quarter. BlackDiamond Wealth Management LLC increased its position in shares of Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock worth $335,000 after purchasing an additional 168 shares during the last quarter. Legacy Financial Group Inc. increased its position in shares of Cisco Systems by 3.4% in the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock worth $302,000 after purchasing an additional 169 shares during the last quarter. Capital Advantage Inc. increased its position in shares of Cisco Systems by 1.0% in the 4th quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider’s stock worth $1,028,000 after purchasing an additional 172 shares during the last quarter. Finally, Lynx Investment Advisory increased its position in shares of Cisco Systems by 3.9% in the 4th quarter. Lynx Investment Advisory now owns 4,593 shares of the network equipment provider’s stock worth $272,000 after purchasing an additional 174 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 15,678 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the sale, the chief financial officer owned 309,543 shares in the company, valued at $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total transaction of $48,821.34. Following the sale, the senior vice president owned 36,937 shares in the company, valued at $2,366,553.59. This represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,335 shares of company stock valued at $6,271,054. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 1.5%

Shares of NASDAQ:CSCO opened at $69.64 on Friday. The company has a 50 day moving average of $63.93 and a 200-day moving average of $61.48. The firm has a market cap of $275.77 billion, a P/E ratio of 28.42, a P/E/G ratio of 4.15 and a beta of 0.90. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50.

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

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.35%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is presently 66.94%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CSCO. Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Rosenblatt Securities boosted their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Piper Sandler boosted their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, Citigroup boosted their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.53.

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.