Invesco LLC Sells 11,988 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Invesco LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 41.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,953 shares of the network equipment provider’s stock after selling 11,988 shares during the period. Invesco LLC’s holdings in Cisco Systems were worth $1,046,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Navigoe LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at about $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems during the fourth quarter valued at $26,000. JDM Financial Group LLC grew its stake in Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after purchasing an additional 300 shares during the period. Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems in the 4th quarter valued at about $30,000. Finally, Campbell Capital Management Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Up 1.6%

CSCO stock opened at $67.38 on Tuesday. The company’s 50 day moving average is $61.58 and its 200 day moving average is $60.85. The stock has a market cap of $266.82 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 3.97 and a beta of 0.88. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $67.92.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company posted $0.88 EPS. Sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.43%. Cisco Systems’s dividend payout ratio (DPR) is 66.94%.

Insider Buying and Selling

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 9,643 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the sale, the executive vice president now owns 181,186 shares of the company’s stock, valued at $11,505,311. This represents a 5.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the company’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the transaction, the executive vice president now directly owns 174,669 shares of the company’s stock, valued at approximately $11,447,806.26. This trade represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock worth $6,271,054 in the last 90 days. 0.01% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CSCO. Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Piper Sandler lifted their price target on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Wall Street Zen raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Evercore ISI increased their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Finally, Rosenblatt Securities boosted their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.11.

Cisco Systems 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.