PFG Advisors Sells 14,738 Shares of Cisco Systems, Inc. $CSCO

PFG Advisors reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 36.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,478 shares of the network equipment provider’s stock after selling 14,738 shares during the quarter. PFG Advisors’ holdings in Cisco Systems were worth $1,963,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CSCO. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Cisco Systems by 6.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,189,645 shares of the network equipment provider’s stock valued at $218,236,000 after buying an additional 205,043 shares during the period. Greystone Financial Group LLC acquired a new stake in shares of Cisco Systems in the third quarter valued at about $8,563,000. Jones Financial Companies Lllp increased its stake in shares of Cisco Systems by 8.9% in the third quarter. Jones Financial Companies Lllp now owns 686,469 shares of the network equipment provider’s stock valued at $46,165,000 after buying an additional 56,057 shares during the period. Rockland Trust Co. increased its stake in shares of Cisco Systems by 213.8% in the third quarter. Rockland Trust Co. now owns 20,497 shares of the network equipment provider’s stock valued at $1,402,000 after buying an additional 13,966 shares during the period. Finally, CX Institutional increased its stake in shares of Cisco Systems by 11.0% in the third quarter. CX Institutional now owns 144,336 shares of the network equipment provider’s stock valued at $9,875,000 after buying an additional 14,334 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Trading Up 0.1%

NASDAQ CSCO opened at $89.80 on Thursday. The business has a 50 day simple moving average of $80.03 and a 200 day simple moving average of $77.16. Cisco Systems, Inc. has a one year low of $55.16 and a one year high of $90.45. The stock has a market capitalization of $354.70 billion, a P/E ratio of 31.51, a P/E/G ratio of 3.38 and a beta of 0.83. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.02 by $0.02. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The business had revenue of $15.35 billion during the quarter, compared to analysts’ expectations of $15.11 billion. During the same quarter last year, the firm posted $0.94 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. Research analysts expect that Cisco Systems, Inc. will post 3.4 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.9%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, April 2nd. Cisco Systems’s payout ratio is 58.95%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,981 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $79.50, for a total value of $634,489.50. Following the completion of the sale, the executive vice president owned 187,097 shares of the company’s stock, valued at approximately $14,874,211.50. This trade represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Oliver Tuszik sold 3,132 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $79.74, for a total value of $249,745.68. Following the completion of the sale, the executive vice president directly owned 188,613 shares of the company’s stock, valued at $15,040,000.62. This trade represents a 1.63% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 46,431 shares of company stock valued at $3,574,820. Company insiders own 0.01% of the company’s stock.

Cisco Systems News Summary

Here are the key news stories impacting Cisco Systems this week:

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CSCO shares. Zacks Research cut Cisco Systems from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Truist Financial started coverage on Cisco Systems in a research note on Tuesday, March 31st. They issued a “buy” rating and a $94.00 price target for the company. Evercore raised Cisco Systems from an “in-line” rating to an “outperform” rating and increased their price target for the company from $80.00 to $100.00 in a research note on Monday, January 26th. CICC Research increased their price target on Cisco Systems from $84.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Finally, Argus raised Cisco Systems to a “strong-buy” rating in a research note on Friday, February 13th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.81.

View Our Latest Analysis on Cisco Systems

Cisco Systems Company Profile

(Free Report)

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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

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