Union Bancaire Privee UBP SA Trims Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Union Bancaire Privee UBP SA decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 29.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,551 shares of the network equipment provider’s stock after selling 16,934 shares during the period. Union Bancaire Privee UBP SA’s holdings in Cisco Systems were worth $2,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSCO. Tallon Kerry Patrick purchased a new position in Cisco Systems in the 4th quarter worth $603,000. Brighton Jones LLC raised its stake in Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after acquiring an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in Cisco Systems by 37.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after acquiring an additional 2,474 shares during the last quarter. Sovran Advisors LLC purchased a new position in shares of Cisco Systems during the 4th quarter valued at about $541,000. Finally, TFB Advisors LLC purchased a new position in shares of Cisco Systems during the 4th quarter valued at about $253,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the subject of a number of recent research reports. Piper Sandler lifted their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Citigroup lifted their price objective on Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Evercore ISI lifted their price objective on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Finally, The Goldman Sachs Group lifted their price objective on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Insider Buying and Selling

In other news, insider Jeetendra I. Patel sold 9,961 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the transaction, the insider now directly owns 257,162 shares in the company, valued at $16,450,653.14. The trade was a 3.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer now owns 688,409 shares in the company, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,931 shares of company stock worth $4,671,930. Insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 1.4%

CSCO stock opened at $65.10 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The stock has a market cap of $257.80 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 4.16 and a beta of 0.88. The business’s 50-day moving average is $60.25 and its 200 day moving average is $60.53.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping 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 company had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. During the same period in the previous year, the firm posted $0.88 EPS. Cisco Systems’s revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s payout ratio is 66.94%.

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.