CFM Wealth Partners LLC Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

CFM Wealth Partners LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 9.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,641 shares of the network equipment provider’s stock after selling 922 shares during the quarter. CFM Wealth Partners LLC’s holdings in Cisco Systems were worth $431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of CSCO. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Cisco Systems by 1,096.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock worth $146,845,000 after purchasing an additional 2,663,676 shares during the period. Roble Belko & Company Inc grew its holdings in Cisco Systems by 77.1% in the fourth quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock worth $324,000 after purchasing an additional 2,788 shares during the period. Louisiana State Employees Retirement System purchased a new stake in Cisco Systems in the fourth quarter worth about $28,685,000. Adage Capital Partners GP L.L.C. grew its holdings in Cisco Systems by 1.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock worth $240,335,000 after purchasing an additional 49,700 shares during the period. Finally, Allen Mooney & Barnes Investment Advisors LLC grew its holdings in Cisco Systems by 0.6% in the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock worth $9,734,000 after purchasing an additional 1,097 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CSCO shares. Citigroup started coverage on shares of Cisco Systems in a report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price objective on the stock. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and a consensus price target of $56.47.

Insiders Place Their Bets

In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the sale, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the sale, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction on 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 owns 725,363 shares in the company, valued at $33,439,234.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,106 shares of company stock worth $1,908,923. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

CSCO traded down $0.52 during trading on Wednesday, hitting $46.86. The company’s stock had a trading volume of 13,977,929 shares, compared to its average volume of 19,751,314. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a one year low of $44.95 and a one year high of $58.19. The firm has a market cap of $188.79 billion, a PE ratio of 15.79, a P/E/G ratio of 2.74 and a beta of 0.85. The business’s 50 day simple moving average is $47.11 and its 200-day simple moving average is $48.83.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same period last year, the firm earned $0.88 earnings per share. The company’s quarterly revenue was down 12.8% on a year-over-year basis. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be given a $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 annualized dividend and a yield of 3.41%. Cisco Systems’s payout ratio is presently 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.