LaFleur & Godfrey LLC Decreases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

LaFleur & Godfrey LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,547 shares of the network equipment provider’s stock after selling 5,401 shares during the quarter. LaFleur & Godfrey LLC’s holdings in Cisco Systems were worth $4,971,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Navigoe LLC purchased a new position in shares of Cisco Systems during the fourth quarter worth approximately $26,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Cisco Systems in the fourth quarter worth $26,000. JDM Financial Group LLC increased its stake in shares of Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after buying an additional 300 shares during the period. Runnymede Capital Advisors Inc. purchased a new position in shares of Cisco Systems in the fourth quarter worth $30,000. Finally, Campbell Capital Management Inc. purchased a new position in shares of Cisco Systems in the fourth quarter worth $31,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CSCO. Evercore ISI lifted their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Piper Sandler boosted their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Wall Street Zen raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, May 15th. Seven 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 company. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and an average target price of $69.11.

Insider Activity

In related news, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the sale, the insider now directly owns 257,162 shares of the company’s stock, valued at approximately $16,450,653.14. This represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the sale, the executive vice president now directly owns 174,669 shares of the company’s stock, valued at $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock valued at $6,271,054 in the last quarter. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $67.38 on Tuesday. The stock has a market cap of $266.82 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 3.97 and a beta of 0.88. The firm’s 50-day moving average is $61.58 and its 200 day moving average is $60.85. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $67.86. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87.

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

Cisco Systems Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s payout ratio is currently 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.