Chesley Taft & Associates LLC Sells 955 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Chesley Taft & Associates LLC cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 18,148 shares of the network equipment provider’s stock after selling 955 shares during the period. Chesley Taft & Associates LLC’s holdings in Cisco Systems were worth $862,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CSCO. Delos Wealth Advisors LLC lifted its position in Cisco Systems by 1,666.7% during the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after purchasing an additional 600 shares during the period. DiNuzzo Private Wealth Inc. purchased a new stake in Cisco Systems during the 4th quarter valued at $33,000. Retirement Group LLC boosted its stake in shares of Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after buying an additional 263 shares during the last quarter. Tidemark LLC bought a new stake in shares of Cisco Systems in the fourth quarter worth $41,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Cisco Systems during the first quarter valued at $41,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.1 %

Shares of CSCO traded down $0.06 during trading hours on Monday, reaching $49.40. 1,141,655 shares of the company traded hands, compared to its average volume of 19,816,982. The stock’s fifty day moving average price is $46.74 and its 200 day moving average price is $47.86. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The firm has a market cap of $199.02 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 2.97 and a beta of 0.85. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 EPS. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.24%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Buying and Selling at Cisco Systems

In related news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the transaction, the chief executive officer now owns 725,363 shares in the company, valued at approximately $33,439,234.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Charles Robbins sold 26,331 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the sale, the chief executive officer now owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’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 transaction, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,090 shares of company stock valued at $1,522,231. 0.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on CSCO shares. Jefferies Financial Group dropped their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday. Oppenheimer upped their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research note on Friday. Piper Sandler restated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research note on Thursday. Finally, BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research report on Monday, May 13th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.89.

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.