Thompson Investment Management Inc. Sells 4,331 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Thompson Investment Management Inc. trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 167,335 shares of the network equipment provider’s stock after selling 4,331 shares during the quarter. Cisco Systems makes up about 1.5% of Thompson Investment Management Inc.’s portfolio, making the stock its 14th biggest position. Thompson Investment Management Inc.’s holdings in Cisco Systems were worth $10,326,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CSCO. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems during the fourth quarter worth $26,000. Navigoe LLC purchased a new position in Cisco Systems in the 4th quarter worth about $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems during the 4th quarter valued at about $26,000. JDM Financial Group LLC boosted its position in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after buying an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new position in Cisco Systems in the 4th quarter worth about $30,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Trading Down 1.1%

NASDAQ:CSCO opened at $65.15 on Wednesday. The stock has a market capitalization of $257.99 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 4.16 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 quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average of $59.85 and a 200 day moving average of $60.46.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the prior year, the business posted $0.88 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its board has initiated a share repurchase program on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.52%. Cisco Systems’s payout ratio is 66.94%.

Insider Activity

In other Cisco Systems 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 transaction of $1,924,344.24. Following the sale, the chief executive officer now owns 688,409 shares in the company, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 4,185 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total value of $265,789.35. Following the completion of the transaction, the senior vice president now owns 38,103 shares of the company’s stock, valued at approximately $2,419,921.53. The trade was a 9.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,573 shares of company stock worth $4,392,619 over the last 90 days. 0.01% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Piper Sandler raised their price objective on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. JPMorgan Chase & Co. upped their target price on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. New Street Research restated a “neutral” rating and set a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. Finally, Citigroup lifted their price objective on Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

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.