New England Research & Management Inc. Has $658,000 Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

New England Research & Management Inc. cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,665 shares of the network equipment provider’s stock after selling 800 shares during the period. New England Research & Management Inc.’s holdings in Cisco Systems were worth $658,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSCO. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $26,000. Navigoe LLC bought a new position in shares of Cisco Systems during the fourth quarter worth approximately $26,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Cisco Systems during the 4th quarter worth approximately $26,000. JDM Financial Group LLC boosted its position in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after acquiring an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Cisco Systems in the fourth quarter valued at approximately $30,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. New Street Research reaffirmed a “neutral” rating and set a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. Citigroup lifted their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Piper Sandler lifted their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. lifted their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Finally, DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.00.

Insider Activity

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,407 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total value of $154,072.07. Following the sale, the executive vice president now owns 177,027 shares of the company’s stock, valued at $11,331,498.27. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeetendra I. Patel sold 899 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the completion of the transaction, the insider now directly owns 255,377 shares in the company, valued at $16,413,079.79. This trade represents a 0.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,931 shares of company stock worth $4,671,930 in the last ninety days. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Cisco Systems stock opened at $64.09 on Friday. The company has a 50 day moving average price of $60.47 and a 200-day moving average price of $60.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The company has a market capitalization of $253.80 billion, a PE ratio of 27.99, a P/E/G ratio of 4.16 and a beta of 0.88.

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

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

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.