Central Valley Advisors LLC Lowers Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Central Valley Advisors LLC decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,144 shares of the network equipment provider’s stock after selling 758 shares during the quarter. Central Valley Advisors LLC’s holdings in Cisco Systems were worth $379,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CSCO. Mainstream Capital Management LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth $132,000. Proficio Capital Partners LLC raised its position in Cisco Systems by 76.4% during the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock valued at $1,003,000 after purchasing an additional 7,338 shares in the last quarter. Investment Management Corp of Ontario lifted its stake in Cisco Systems by 44.6% during the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock worth $11,454,000 after purchasing an additional 59,680 shares during the last quarter. Aveo Capital Partners LLC boosted its holdings in shares of Cisco Systems by 8.3% in the 4th quarter. Aveo Capital Partners LLC now owns 5,296 shares of the network equipment provider’s stock worth $314,000 after purchasing an additional 407 shares in the last quarter. Finally, AlTi Global Inc. increased its position in shares of Cisco Systems by 49.8% during the 4th quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider’s stock valued at $1,217,000 after purchasing an additional 6,811 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. The Goldman Sachs Group upped their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Piper Sandler lifted their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. UBS Group boosted their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Citigroup raised their price objective on Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Insider Activity at Cisco Systems

In related news, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the transaction, the insider now directly owns 257,162 shares in the company, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their ownership of the stock. The transaction 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 Cisco Systems stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares in the company, valued at $2,693,013.45. This represents a 1.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,400 shares of company stock valued at $4,564,439 in the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

CSCO opened at $65.90 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The stock has a market capitalization of $260.96 billion, a PE ratio of 28.78, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The stock’s 50 day moving average price is $59.69 and its 200-day moving average price is $60.43. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same period in the prior year, the business earned $0.88 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s payout ratio is currently 66.94%.

Cisco Systems announced that its board has authorized a share repurchase program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.