Community Financial Services Group LLC Sells 10,263 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Community Financial Services Group LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 21.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,618 shares of the network equipment provider’s stock after selling 10,263 shares during the period. Community Financial Services Group LLC’s holdings in Cisco Systems were worth $2,321,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Navigoe LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems in the 4th quarter valued at about $26,000. JDM Financial Group LLC raised its stake in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after acquiring 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 Cisco Systems in the 4th quarter valued at about $31,000. 73.33% of the stock is currently owned by institutional investors.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,726 shares of the company’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the sale, the executive vice president now directly owns 174,669 shares in the company, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 4,185 shares of the business’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total value of $265,789.35. Following the completion of the transaction, the senior vice president now directly owns 38,103 shares of the company’s stock, valued at approximately $2,419,921.53. The trade was a 9.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock worth $6,271,054 in the last quarter. 0.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CSCO has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded 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 note on Monday, June 16th. Rosenblatt Securities boosted their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Piper Sandler boosted their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Finally, Evercore ISI boosted their price objective on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Seven equities 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.11.

Cisco Systems Price 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 price-to-earnings-growth ratio of 3.97 and a beta of 0.88. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The stock has a 50 day moving average price of $61.58 and a 200-day moving average price of $60.85. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $67.86.

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, topping analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same period in the prior year, the company posted $0.88 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. Equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

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

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.