Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by MJP Associates Inc. ADV

MJP Associates Inc. ADV decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,631 shares of the network equipment provider’s stock after selling 1,005 shares during the quarter. MJP Associates Inc. ADV’s holdings in Cisco Systems were worth $1,067,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Central Bank & Trust Co. grew its stake in shares of Cisco Systems by 1.9% in the 1st quarter. Central Bank & Trust Co. now owns 10,930 shares of the network equipment provider’s stock valued at $571,000 after buying an additional 204 shares during the period. Relyea Zuckerberg Hanson LLC grew its position in Cisco Systems by 1.6% in the first quarter. Relyea Zuckerberg Hanson LLC now owns 13,648 shares of the network equipment provider’s stock worth $713,000 after acquiring an additional 211 shares during the period. Stillwater Investment Management LLC increased its stake in Cisco Systems by 0.3% during the first quarter. Stillwater Investment Management LLC now owns 73,720 shares of the network equipment provider’s stock worth $3,854,000 after acquiring an additional 214 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its position in Cisco Systems by 0.5% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 40,473 shares of the network equipment provider’s stock valued at $2,116,000 after purchasing an additional 215 shares during the period. Finally, Pin Oak Investment Advisors Inc. lifted its stake in shares of Cisco Systems by 3.3% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 6,706 shares of the network equipment provider’s stock valued at $319,000 after purchasing an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CSCO. Evercore ISI raised their price objective on Cisco Systems from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, August 17th. Oppenheimer reissued an “outperform” rating and issued a $58.00 price target on shares of Cisco Systems in a research note on Thursday, August 17th. Morgan Stanley lifted their target price on shares of Cisco Systems from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, August 17th. BNP Paribas began coverage on Cisco Systems in a research report on Thursday, July 20th. They issued an “underperform” rating and a $45.00 target price on the stock. Finally, Piper Sandler raised their price target on Cisco Systems from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Hold” and an average target price of $59.43.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $56.11 on Tuesday. The stock’s 50-day simple moving average is $54.20 and its 200-day simple moving average is $51.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 1.38. The firm has a market capitalization of $227.52 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 2.48 and a beta of 0.97. Cisco Systems, Inc. has a fifty-two week low of $38.60 and a fifty-two week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.08. Cisco Systems had a net margin of 22.13% and a return on equity of 33.42%. The business had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.05 billion. During the same quarter in the prior year, the business posted $0.74 EPS. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.58 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be given a $0.39 dividend. The ex-dividend date is Tuesday, October 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.78%. Cisco Systems’s dividend payout ratio (DPR) is presently 50.81%.

Insider Buying and Selling

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,022 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $56.22, for a total value of $169,896.84. Following the completion of the sale, the executive vice president now owns 169,396 shares in the company, valued at $9,523,443.12. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 6,186 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $54.65, for a total transaction of $338,064.90. Following the completion of the sale, the senior vice president now directly owns 64,493 shares of the company’s stock, valued at approximately $3,524,542.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,022 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $56.22, for a total value of $169,896.84. Following the completion of the transaction, the executive vice president now directly owns 169,396 shares in the company, valued at approximately $9,523,443.12. The disclosure for this sale can be found here. Insiders have sold 54,438 shares of company stock worth $2,948,779 in the last quarter. 0.02% of the stock is owned by insiders.

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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.