West Paces Advisors Inc. Cuts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

West Paces Advisors Inc. lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,088 shares of the network equipment provider’s stock after selling 729 shares during the quarter. West Paces Advisors Inc.’s holdings in Cisco Systems were worth $853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Prentice Wealth Management LLC boosted its stake in Cisco Systems by 7.6% in the first quarter. Prentice Wealth Management LLC now owns 10,961 shares of the network equipment provider’s stock worth $547,000 after buying an additional 777 shares in the last quarter. Sarasin & Partners LLP boosted its stake in shares of Cisco Systems by 6.9% during the first quarter. Sarasin & Partners LLP now owns 3,690,746 shares of the network equipment provider’s stock valued at $184,205,000 after purchasing an additional 237,601 shares during the period. DLK Investment Management LLC boosted its stake in shares of Cisco Systems by 2.3% during the first quarter. DLK Investment Management LLC now owns 63,065 shares of the network equipment provider’s stock valued at $3,148,000 after purchasing an additional 1,393 shares during the period. New England Professional Planning Group Inc. boosted its stake in shares of Cisco Systems by 8.8% during the first quarter. New England Professional Planning Group Inc. now owns 7,319 shares of the network equipment provider’s stock valued at $365,000 after purchasing an additional 590 shares during the period. Finally, Dynamic Advisor Solutions LLC boosted its stake in shares of Cisco Systems by 2.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 248,056 shares of the network equipment provider’s stock valued at $12,380,000 after purchasing an additional 6,395 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the transaction, the executive vice president now owns 180,705 shares in the company, valued at $8,717,209.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the transaction, the executive vice president now owns 180,705 shares in the company, valued at $8,717,209.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the transaction, the senior vice president now owns 51,788 shares in the company, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. Insiders have sold 41,106 shares of company stock worth $1,908,923 over the last quarter. 0.02% of the stock is currently owned by insiders.

Cisco Systems Stock Down 1.1 %

Shares of CSCO traded down $0.52 during trading hours on Wednesday, hitting $46.86. The company had a trading volume of 13,351,892 shares, compared to its average volume of 19,751,313. The company’s fifty day moving average price is $47.11 and its two-hundred day moving average price is $48.83. Cisco Systems, Inc. has a one year low of $44.95 and a one year high of $58.19. The company has a market capitalization of $188.79 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 2.74 and a beta of 0.85. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

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

Cisco Systems Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CSCO. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Piper Sandler restated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft upped their target price on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. Finally, BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price for the company in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems has an average rating of “Hold” and a consensus price target of $56.47.

Cisco Systems Company 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.