Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Waters Parkerson & CO. LLC

Waters Parkerson & CO. LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 23.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,717 shares of the network equipment provider’s stock after selling 2,309 shares during the quarter. Waters Parkerson & CO. LLC’s holdings in Cisco Systems were worth $367,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems in the second quarter valued at approximately $25,000. Retirement Group LLC grew its holdings in Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after buying an additional 263 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in Cisco Systems in the 2nd quarter valued at approximately $36,000. Tidemark LLC bought a new stake in Cisco Systems during the 4th quarter valued at $41,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Cisco Systems during the 1st quarter worth $41,000. 73.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Richard Scott Herren sold 22,309 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total value of $1,115,450.00. Following the sale, the chief financial officer now owns 293,184 shares in the company, valued at $14,659,200. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock valued at $3,509,049 over the last quarter. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CSCO. Jefferies Financial Group dropped their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, August 15th. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Piper Sandler reissued a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, Rosenblatt Securities lifted their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $55.89.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $51.44 on Friday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $56.05. The business’s 50-day moving average price is $48.43 and its two-hundred day moving average price is $48.03. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The company has a market capitalization of $207.24 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 3.87 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the previous year, the business posted $1.01 EPS. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. Analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.11%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

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.