Charles Schwab Trust Co Sells 10,692 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Charles Schwab Trust Co cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 59.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,403 shares of the network equipment provider’s stock after selling 10,692 shares during the quarter. Charles Schwab Trust Co’s holdings in Cisco Systems were worth $369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. PGIM Custom Harvest LLC bought a new stake in shares of Cisco Systems in the 3rd quarter worth approximately $255,000. Operose Advisors LLC lifted its holdings in shares of Cisco Systems by 86.3% in the 3rd quarter. Operose Advisors LLC now owns 5,977 shares of the network equipment provider’s stock worth $321,000 after acquiring an additional 2,769 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Cisco Systems by 17.2% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 721,397 shares of the network equipment provider’s stock worth $38,782,000 after acquiring an additional 105,890 shares during the last quarter. Mutual Advisors LLC lifted its holdings in shares of Cisco Systems by 1.1% in the 3rd quarter. Mutual Advisors LLC now owns 173,480 shares of the network equipment provider’s stock worth $9,326,000 after acquiring an additional 1,824 shares during the last quarter. Finally, Mendel Money Management lifted its holdings in shares of Cisco Systems by 8.1% in the 3rd quarter. Mendel Money Management now owns 13,245 shares of the network equipment provider’s stock worth $712,000 after acquiring an additional 988 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Up 0.2 %

NASDAQ:CSCO opened at $47.38 on Wednesday. The firm’s 50-day moving average price is $47.11 and its 200-day moving average price is $48.83. The company has a market capitalization of $190.89 billion, a PE ratio of 15.95, a P/E/G ratio of 2.74 and a beta of 0.86. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. Cisco Systems, Inc. has a 1-year low of $44.95 and a 1-year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The company’s revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 EPS. On average, equities analysts predict that Cisco Systems, Inc. will post 3.14 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 24th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.38%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CSCO. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. Barclays upped their price target on shares of Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, May 17th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. Piper Sandler reiterated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a report on Wednesday, June 5th. Finally, Oppenheimer upped their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Cisco Systems currently has an average rating of “Hold” and an average target price of $56.47.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at approximately $33,439,234.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Maria Victoria Wong sold 3,378 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total transaction of $155,016.42. Following the sale, the senior vice president now owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at approximately $33,439,234.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,106 shares of company stock worth $1,908,923. 0.02% of the stock is owned by corporate insiders.

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.