Greylin Investment Management Inc Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Greylin Investment Management Inc lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,576 shares of the network equipment provider’s stock after selling 5,305 shares during the quarter. Greylin Investment Management Inc’s holdings in Cisco Systems were worth $2,973,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Christopher J. Hasenberg Inc acquired a new stake in shares of Cisco Systems in the first quarter worth approximately $50,000. PSI Advisors LLC boosted its position in Cisco Systems by 6.7% during the first quarter. PSI Advisors LLC now owns 5,553 shares of the network equipment provider’s stock worth $277,000 after acquiring an additional 350 shares during the last quarter. Patton Albertson Miller Group LLC lifted its stake in Cisco Systems by 13.9% in the 1st quarter. Patton Albertson Miller Group LLC now owns 158,327 shares of the network equipment provider’s stock worth $7,902,000 after purchasing an additional 19,331 shares in the last quarter. Keene & Associates Inc. increased its holdings in shares of Cisco Systems by 1.0% in the first quarter. Keene & Associates Inc. now owns 71,183 shares of the network equipment provider’s stock valued at $3,553,000 after purchasing an additional 672 shares during the last quarter. Finally, Zhang Financial LLC grew its holdings in Cisco Systems by 21.4% in the 1st quarter. Zhang Financial LLC now owns 36,714 shares of the network equipment provider’s stock valued at $1,832,000 after buying an additional 6,469 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the sale, the executive vice president now directly owns 180,705 shares in the company, valued at approximately $8,717,209.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the sale, the executive vice president now owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,457 shares of company stock worth $1,358,772. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Stock Down 1.7 %

Shares of CSCO stock traded down $0.83 on Thursday, reaching $46.60. 18,821,915 shares of the stock were exchanged, compared to its average volume of 19,432,281. The company has a market capitalization of $188.69 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 2.73 and a beta of 0.87. The business’s 50 day moving average price is $48.45 and its 200 day moving average price is $49.37. 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, Inc. has a twelve month low of $46.20 and a twelve month high of $58.19.

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, topping the consensus estimate of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the prior year, the firm posted $0.88 EPS. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.43%. Cisco Systems’s payout ratio is currently 53.87%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CSCO. Piper Sandler reiterated a “neutral” rating and issued a $52.00 target price (up from $51.00) on shares of Cisco Systems in a report on Thursday, May 16th. JPMorgan Chase & Co. began coverage on Cisco Systems in a report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target for the company. Barclays lifted their price target on shares of Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, May 17th. UBS Group lifted their target price on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Finally, Morgan Stanley started coverage on Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price target on the stock. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and an average target price 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.