Plimoth Trust Co. LLC Sells 3,470 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Plimoth Trust Co. LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,543 shares of the network equipment provider’s stock after selling 3,470 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Cisco Systems were worth $1,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Mcintyre Freedman & Flynn Investment Advisers Inc. grew its stake in Cisco Systems by 0.3% during the 4th quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock worth $3,019,000 after buying an additional 202 shares during the last quarter. Hyman Charles D raised its holdings in Cisco Systems by 0.3% in the 4th quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock worth $3,573,000 after purchasing an additional 203 shares during the period. Madrona Financial Services LLC lifted its stake in Cisco Systems by 2.4% in the 4th quarter. Madrona Financial Services LLC now owns 8,970 shares of the network equipment provider’s stock valued at $453,000 after buying an additional 207 shares in the last quarter. Morton Brown Family Wealth LLC boosted its stake in Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the last quarter. Finally, Baker Boyer National Bank boosted its stake in Cisco Systems by 2.6% during the first quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock worth $411,000 after buying an additional 210 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Trading Down 0.5 %

Cisco Systems stock opened at $47.28 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a 12 month low of $44.95 and a 12 month high of $58.19. The company’s fifty day simple moving average is $47.05 and its 200-day simple moving average is $48.77. The stock has a market cap of $190.48 billion, a P/E ratio of 15.92, a P/E/G ratio of 2.75 and a beta of 0.85.

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, beating the consensus estimate of $0.70 by $0.18. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. Cisco Systems’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 EPS. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CSCO. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a report on Monday, May 13th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Morgan Stanley assumed coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price for the company. Finally, Piper Sandler reissued a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research report on Wednesday, June 5th. One investment 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, the company presently has an average rating of “Hold” and a consensus price target of $56.47.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,378 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the sale, the senior vice president now owns 52,953 shares in the company, valued at $2,430,013.17. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, 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 value of $118,745.46. Following the completion of the transaction, the executive vice president now directly owns 176,384 shares in the company, valued at $7,997,250.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 3,378 shares of Cisco Systems stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the sale, the senior vice president now owns 52,953 shares in the company, valued at approximately $2,430,013.17. The disclosure for this sale can be found here. Insiders sold 41,106 shares of company stock worth $1,908,923 over the last ninety days. Company insiders own 0.02% of the company’s stock.

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.