Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Park Place Capital Corp

Park Place Capital Corp cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 17.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,318 shares of the network equipment provider’s stock after selling 3,302 shares during the quarter. Park Place Capital Corp’s holdings in Cisco Systems were worth $765,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CSCO. Claro Advisors LLC raised its holdings in Cisco Systems by 4.1% in the 1st quarter. Claro Advisors LLC now owns 35,197 shares of the network equipment provider’s stock worth $1,757,000 after purchasing an additional 1,373 shares during the period. Talbot Financial LLC raised its stake in shares of Cisco Systems by 4.9% during the 1st quarter. Talbot Financial LLC now owns 182,346 shares of the network equipment provider’s stock worth $9,101,000 after buying an additional 8,473 shares during the period. Miracle Mile Advisors LLC lifted its position in shares of Cisco Systems by 8.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 21,151 shares of the network equipment provider’s stock valued at $1,056,000 after buying an additional 1,620 shares in the last quarter. Kowal Investment Group LLC lifted its position in shares of Cisco Systems by 13.9% during the 1st quarter. Kowal Investment Group LLC now owns 24,021 shares of the network equipment provider’s stock valued at $1,199,000 after buying an additional 2,937 shares in the last quarter. Finally, BKM Wealth Management LLC increased its holdings in Cisco Systems by 20.1% in the 1st quarter. BKM Wealth Management LLC now owns 31,432 shares of the network equipment provider’s stock worth $1,569,000 after acquiring an additional 5,259 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In other Cisco Systems 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 transaction, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the transaction, the senior vice president now directly owns 51,788 shares in the company, valued at approximately $2,352,210.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. Insiders have sold a total of 41,106 shares of company stock valued at $1,908,923 over the last quarter. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Up 0.0 %

Shares of NASDAQ:CSCO traded up $0.01 during trading hours on Monday, reaching $47.52. The stock had a trading volume of 17,769,230 shares, compared to its average volume of 19,724,012. Cisco Systems, Inc. has a 1 year low of $44.95 and a 1 year high of $58.19. The firm’s 50 day moving average is $47.06 and its 200-day moving average is $48.78. The stock has a market capitalization of $191.45 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 2.75 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89.

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

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.37%. Cisco Systems’s dividend payout ratio is presently 53.87%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Piper Sandler restated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research report on Wednesday, June 5th. Barclays lifted their target price on shares of Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, May 17th. BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price for the company in a research report on Monday, May 13th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Monday, June 10th. Finally, Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $55.00 to $60.00 in a research note on Monday, April 15th. One 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.