Cisco Systems, Inc. (NASDAQ:CSCO) Stake Trimmed by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 14.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,626 shares of the network equipment provider’s stock after selling 1,604 shares during the period. TCI Wealth Advisors Inc.’s holdings in Cisco Systems were worth $594,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CSCO. Norges Bank bought a new position in Cisco Systems during the fourth quarter valued at about $3,297,905,000. FMR LLC grew its position in Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after purchasing an additional 13,285,052 shares during the last quarter. Raymond James Financial Inc. bought a new position in Cisco Systems during the fourth quarter valued at about $560,722,000. Alyeska Investment Group L.P. bought a new position in Cisco Systems during the fourth quarter valued at about $413,491,000. Finally, GAMMA Investing LLC lifted its position in shares of Cisco Systems by 7,096.5% in the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider’s stock worth $414,593,000 after acquiring an additional 6,625,045 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Piper Sandler boosted their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Morgan Stanley reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $65.00 to $73.00 in a research note on Monday. Evercore ISI boosted their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Finally, Rosenblatt Securities increased their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and an average price target of $69.11.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Oliver Tuszik sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the completion of the sale, the executive vice president now owns 131,676 shares of the company’s stock, valued at $8,365,376.28. This represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,931 shares of company stock valued at $4,671,930 over the last ninety days. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 0.8%

NASDAQ CSCO opened at $65.84 on Thursday. The stock has a market capitalization of $260.73 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 3.91 and a beta of 0.88. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. 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 has a fifty day moving average of $61.02 and a 200-day moving average of $60.69.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.88 earnings per share. On average, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is 66.94%.

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.