Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Leigh Baldwin & CO. LLC

Leigh Baldwin & CO. LLC decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 19.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,065 shares of the network equipment provider’s stock after selling 956 shares during the quarter. Leigh Baldwin & CO. LLC’s holdings in Cisco Systems were worth $251,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Legacy Financial Group Inc. increased its stake in shares of Cisco Systems by 3.4% during the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock worth $302,000 after acquiring an additional 169 shares during the period. Capital Advantage Inc. boosted its stake in shares of Cisco Systems by 1.0% during the 4th quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider’s stock worth $1,028,000 after acquiring an additional 172 shares in the last quarter. Avalon Trust Co grew its holdings in shares of Cisco Systems by 5.4% in the 1st quarter. Avalon Trust Co now owns 3,433 shares of the network equipment provider’s stock worth $212,000 after acquiring an additional 177 shares during the period. Rossmore Private Capital boosted its position in Cisco Systems by 0.3% during the first quarter. Rossmore Private Capital now owns 69,220 shares of the network equipment provider’s stock worth $4,272,000 after purchasing an additional 181 shares in the last quarter. Finally, Hemington Wealth Management grew its holdings in Cisco Systems by 4.1% in the first quarter. Hemington Wealth Management now owns 4,803 shares of the network equipment provider’s stock valued at $296,000 after purchasing an additional 189 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Down 1.6%

CSCO opened at $69.30 on Friday. Cisco Systems, Inc. has a 12 month low of $47.85 and a 12 month high of $72.55. The business has a 50-day moving average of $67.98 and a two-hundred day moving average of $63.28. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The stock has a market capitalization of $274.43 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 3.90 and a beta of 0.91.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01. Cisco Systems had a net margin of 18.45% and a return on equity of 27.24%. The business had revenue of $14.67 billion for the quarter, compared to analysts’ expectations of $14.63 billion. During the same period last year, the company earned $0.87 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, October 3rd. Cisco Systems’s dividend payout ratio is presently 66.94%.

Insider Buying and Selling at Cisco Systems

In other news, insider Jeetendra I. Patel sold 899 shares of Cisco Systems stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $64.27, for a total value of $57,778.73. Following the transaction, the insider directly owned 255,377 shares of the company’s stock, valued at $16,413,079.79. The trade was a 0.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the business’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the sale, the executive vice president owned 174,669 shares of the company’s stock, valued at $11,447,806.26. The trade was a 4.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,731 shares of company stock worth $5,021,519. 0.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CSCO. Wolfe Research started coverage on Cisco Systems in a research note on Tuesday, July 8th. They set a “peer perform” rating for the company. CICC Research initiated coverage on shares of Cisco Systems in a research report on Monday, July 14th. They set an “outperform” rating and a $78.00 target price for the company. Piper Sandler upped their price target on shares of Cisco Systems from $64.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday. Barclays raised their price objective on shares of Cisco Systems from $66.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, New Street Research restated a “neutral” rating and set a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average price target of $72.90.

About Cisco Systems

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.