Watchman Group Inc. Lowers Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Watchman Group Inc. lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 15.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,301 shares of the network equipment provider’s stock after selling 770 shares during the quarter. Watchman Group Inc.’s holdings in Cisco Systems were worth $222,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Costello Asset Management INC purchased a new position in shares of Cisco Systems in the fourth quarter worth $26,000. Navis Wealth Advisors LLC bought a new stake in Cisco Systems in the fourth quarter worth $30,000. Better Money Decisions LLC bought a new stake in Cisco Systems in the first quarter worth $30,000. Goodwin Investment Advisory bought a new stake in Cisco Systems in the fourth quarter worth $31,000. Finally, Defined Wealth Management LLC bought a new stake in Cisco Systems in the fourth quarter worth $34,000. 70.62% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:CSCO traded up $0.41 during trading hours on Friday, reaching $52.90. 14,789,375 shares of the stock were exchanged, compared to its average volume of 20,934,221. The stock has a market capitalization of $223.33 billion, a P/E ratio of 21.50, a P/E/G ratio of 2.54 and a beta of 0.95. Cisco Systems, Inc. has a 52 week low of $35.28 and a 52 week high of $54.14. The company has a quick ratio of 1.54, a current ratio of 1.59 and a debt-to-equity ratio of 0.25. The firm has a 50 day simple moving average of $51.98 and a 200-day simple moving average of $46.30.

CSCO has been the topic of a number of analyst reports. Piper Sandler boosted their price objective on shares of Cisco Systems from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, February 10th. Raymond James upped their price objective on shares of Cisco Systems from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup increased their price target on shares of Cisco Systems from $45.00 to $50.00 in a research report on Wednesday, February 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Cisco Systems in a research report on Monday, April 26th. They set a “hold” rating and a $55.00 price target for the company. Finally, Robert W. Baird reissued a “hold” rating on shares of Cisco Systems in a research report on Tuesday, May 11th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $51.90.

In other Cisco Systems news, CEO Charles Robbins sold 8,497 shares of Cisco Systems stock in a transaction on Wednesday, February 17th. The stock was sold at an average price of $46.20, for a total transaction of $392,561.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director M Michele Burns sold 13,982 shares of Cisco Systems stock in a transaction on Friday, March 26th. The shares were sold at an average price of $51.55, for a total value of $720,772.10. Following the sale, the director now directly owns 70,468 shares in the company, valued at approximately $3,632,625.40. The disclosure for this sale can be found here. Insiders have sold a total of 28,479 shares of company stock worth $1,393,294 in the last ninety days. 0.02% of the stock is owned by company insiders.

Cisco Systems Company 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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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