St. Johns Investment Management Company LLC Has $988,000 Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

St. Johns Investment Management Company LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,787 shares of the network equipment provider’s stock after selling 2,915 shares during the quarter. St. Johns Investment Management Company LLC’s holdings in Cisco Systems were worth $988,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CSCO. Norges Bank bought a new position in shares of Cisco Systems in the fourth quarter worth $2,528,939,000. Charles Schwab Investment Management Inc. grew its position in Cisco Systems by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock valued at $3,672,445,000 after acquiring an additional 6,345,954 shares during the last quarter. FIL Ltd grew its position in Cisco Systems by 47.1% in the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock valued at $955,961,000 after acquiring an additional 6,054,748 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Cisco Systems by 29.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,727,214 shares of the network equipment provider’s stock valued at $895,576,000 after acquiring an additional 3,989,543 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in Cisco Systems by 25.0% in the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock valued at $947,262,000 after acquiring an additional 3,753,165 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the transaction, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the sale, the executive vice president now owns 176,384 shares in the company, valued at $7,997,250.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the sale, the chief executive officer now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The disclosure for this sale can be found here. Insiders have sold 41,106 shares of company stock valued at $1,908,923 over the last ninety days. 0.02% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Piper Sandler reiterated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research report on Wednesday, June 5th. Wells Fargo & Company lifted their target price on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, May 16th. JPMorgan Chase & Co. assumed coverage on Cisco Systems in a report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target on the stock. Citigroup assumed coverage on Cisco Systems in a report on Friday, April 12th. They set a “neutral” rating and a $52.00 price target on the stock. Finally, Barclays boosted their price target on Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $56.47.

Cisco Systems Price Performance

Shares of CSCO opened at $46.86 on Thursday. Cisco Systems, Inc. has a 52-week low of $44.95 and a 52-week high of $58.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The business’s 50 day moving average price is $47.11 and its two-hundred day moving average price is $48.83. The firm has a market cap of $188.79 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 2.74 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the previous year, the firm earned $0.88 earnings per share. The company’s revenue was down 12.8% compared to the same quarter last year. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s payout ratio is 53.87%.

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.