Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Sawyer & Company Inc

by · The Cerbat Gem

Sawyer & Company Inc decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,284 shares of the network equipment provider’s stock after selling 666 shares during the quarter. Sawyer & Company Inc’s holdings in Cisco Systems were worth $2,980,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mainstream Capital Management LLC acquired a new position in Cisco Systems in the fourth quarter valued at $132,000. Proficio Capital Partners LLC boosted its holdings in Cisco Systems by 76.4% in the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock valued at $1,003,000 after acquiring an additional 7,338 shares during the last quarter. Investment Management Corp of Ontario boosted its holdings in Cisco Systems by 44.6% in the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock valued at $11,454,000 after acquiring an additional 59,680 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Cisco Systems by 28.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider’s stock valued at $249,180,000 after acquiring an additional 904,548 shares during the last quarter. Finally, AlTi Global Inc. boosted its holdings in Cisco Systems by 49.8% in the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider’s stock valued at $1,217,000 after acquiring an additional 6,811 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the company from $65.00 to $73.00 in a report on Monday, June 16th. Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Piper Sandler lifted their target price on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Finally, Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $69.11.

Read Our Latest Research Report on CSCO

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 29,784 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 688,409 shares of the company’s stock, valued at $44,478,105.49. The trade was a 4.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total value of $48,821.34. Following the completion of the sale, the senior vice president now directly owns 36,937 shares of the company’s stock, valued at approximately $2,366,553.59. This represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock valued at $6,271,054 over the last three months. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Up 0.7%

Shares of NASDAQ CSCO opened at $66.32 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.65. The firm has a market cap of $262.63 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 3.94 and a beta of 0.88. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The stock’s 50-day simple moving average is $61.38 and its 200-day simple moving average is $60.78.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last announced 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 26.48% and a net margin of 17.60%. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same period in the previous year, the company earned $0.88 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, equities 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. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s payout ratio is 66.94%.

Cisco Systems Company Profile

(Free Report)

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.

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