Invesco LLC Cuts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Invesco LLC reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,313 shares of the network equipment provider’s stock after selling 954 shares during the quarter. Invesco LLC’s holdings in Cisco Systems were worth $1,393,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC acquired a new stake in Cisco Systems in the 2nd quarter valued at about $25,000. Retirement Group LLC lifted its stake in Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 263 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in Cisco Systems during the 2nd quarter valued at $36,000. Tidemark LLC purchased a new position in Cisco Systems during the fourth quarter worth $41,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Cisco Systems in the first quarter worth $41,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’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 completion of the transaction, the executive vice president now directly owns 176,384 shares in the company, valued at $7,997,250.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,944 shares of company stock valued at $3,566,120. Insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $48.70 on Tuesday. The business has a 50 day simple moving average of $47.87 and a 200-day simple moving average of $47.93. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $56.97. The company has a market capitalization of $196.20 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 3.82 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period last year, the firm posted $1.01 EPS. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd 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 3.29%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Wall Street Analyst Weigh In

A number of analysts recently commented on CSCO shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research report on Thursday, August 15th. Rosenblatt Securities increased their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Wells Fargo & Company increased their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. Finally, BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target on the stock in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $55.89.

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.