SYM FINANCIAL Corp Reduces Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

SYM FINANCIAL Corp lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 29.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,854 shares of the network equipment provider’s stock after selling 2,000 shares during the quarter. SYM FINANCIAL Corp’s holdings in Cisco Systems were worth $242,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in Cisco Systems by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock valued at $3,672,445,000 after acquiring an additional 6,345,954 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Cisco Systems by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 68,463,463 shares of the network equipment provider’s stock valued at $3,417,011,000 after purchasing an additional 2,386,508 shares in the last quarter. Norges Bank acquired a new position in shares of Cisco Systems during the 4th quarter worth $2,528,939,000. Wellington Management Group LLP lifted its holdings in shares of Cisco Systems by 7.6% in the fourth quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock valued at $2,384,334,000 after purchasing an additional 3,314,330 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Cisco Systems by 12.3% during the fourth quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock worth $1,260,033,000 after buying an additional 2,723,260 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the transaction, the senior vice president now directly owns 52,953 shares of the company’s stock, valued at $2,430,013.17. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the sale, the executive vice president now owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 3,378 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were 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 $2,430,013.17. The disclosure for this sale can be found here. Insiders have sold a total of 41,106 shares of company stock valued at $1,908,923 over the last ninety days. 0.02% of the stock is owned by company insiders.

Cisco Systems Stock Performance

NASDAQ:CSCO traded up $0.66 on Friday, hitting $47.42. The company’s stock had a trading volume of 8,442,956 shares, compared to its average volume of 19,509,244. Cisco Systems, Inc. has a one year low of $44.95 and a one year high of $58.19. The firm has a market capitalization of $191.05 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 2.68 and a beta of 0.85. The stock has a fifty day moving average of $46.89 and a two-hundred day moving average of $48.60. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the previous year, the company earned $0.88 EPS. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. Research analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio is currently 53.87%.

Analyst Ratings Changes

Several research analysts have weighed in on CSCO shares. Piper Sandler reiterated a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a report on Wednesday, June 5th. Morgan Stanley assumed coverage on shares of Cisco Systems in a research report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on Cisco Systems in a research note on Monday, April 22nd. They set a “neutral” rating and a $53.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. Finally, Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $60.00 in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and an average price target of $56.47.

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.