Talbot Financial LLC Sells 5,604 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Talbot Financial LLC decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,526 shares of the network equipment provider’s stock after selling 5,604 shares during the quarter. Cisco Systems accounts for 1.4% of Talbot Financial LLC’s portfolio, making the stock its 28th largest position. Talbot Financial LLC’s holdings in Cisco Systems were worth $11,449,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CSCO. Glass Jacobson Investment Advisors llc raised its position in Cisco Systems by 8.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock valued at $123,000 after purchasing an additional 166 shares in the last quarter. Fairhaven Wealth Management LLC raised its position in Cisco Systems by 2.3% during the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock valued at $449,000 after purchasing an additional 167 shares in the last quarter. BlackDiamond Wealth Management LLC raised its position in Cisco Systems by 3.1% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock valued at $335,000 after purchasing an additional 168 shares in the last quarter. Legacy Financial Group Inc. raised its position in Cisco Systems by 3.4% during the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock valued at $302,000 after purchasing an additional 169 shares in the last quarter. Finally, Maple Capital Management Inc. raised its position in Cisco Systems by 1.4% during the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock valued at $709,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the subject of several recent research reports. Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Piper Sandler boosted their price target on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. Citigroup boosted their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Wells Fargo & Company raised Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Finally, Wall Street Zen raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Cisco Systems Stock Down 0.4%

Shares of CSCO stock opened at $62.81 on Friday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The stock’s fifty day moving average price is $59.30 and its 200 day moving average price is $60.11. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The company has a market cap of $248.73 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share 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 the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 EPS. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.61%. Cisco Systems’s payout ratio is presently 66.94%.

Cisco Systems declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 9,643 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the completion of the transaction, the executive vice president now owns 181,186 shares of the company’s stock, valued at $11,505,311. The trade was a 5.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the transaction, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This trade represents a 1.07% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,616 shares of company stock worth $2,640,095. 0.01% of the stock is currently owned by insiders.

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.