Sabal Trust CO Reduces Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Cerbat Gem

Sabal Trust CO lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 27.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 7,171 shares of the network equipment provider’s stock after selling 2,648 shares during the quarter. Sabal Trust CO’s holdings in Cisco Systems were worth $443,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CSCO. Robeco Institutional Asset Management B.V. boosted its position in shares of Cisco Systems by 27.6% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 5,131,144 shares of the network equipment provider’s stock valued at $316,643,000 after purchasing an additional 1,109,343 shares during the period. Kavar Capital Partners Group LLC boosted its position in shares of Cisco Systems by 3.1% in the 1st quarter. Kavar Capital Partners Group LLC now owns 6,984 shares of the network equipment provider’s stock valued at $431,000 after purchasing an additional 209 shares during the period. Aspetuck Financial Management LLC acquired a new stake in shares of Cisco Systems in the 1st quarter valued at about $613,000. Pure Financial Advisors LLC boosted its position in shares of Cisco Systems by 38.6% in the 1st quarter. Pure Financial Advisors LLC now owns 16,969 shares of the network equipment provider’s stock valued at $1,047,000 after purchasing an additional 4,722 shares during the period. Finally, Omnia Family Wealth LLC boosted its position in shares of Cisco Systems by 48.1% in the 1st quarter. Omnia Family Wealth LLC now owns 5,228 shares of the network equipment provider’s stock valued at $323,000 after purchasing an additional 1,699 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $68.95 on Friday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $69.25. The company has a market capitalization of $273.04 billion, a P/E ratio of 28.14, a PEG ratio of 4.08 and a beta of 0.88. The business has a 50 day moving average price of $62.31 and a 200 day moving average price of $61.02. 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 – Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period last year, the business posted $0.88 EPS. Cisco Systems’s quarterly revenue was up 11.4% on a year-over-year basis. Sell-side analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s payout ratio is currently 66.94%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Wells Fargo & Company raised Cisco Systems from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Citigroup increased their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Piper Sandler increased their price objective on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.53.

Check Out Our Latest Stock Analysis on Cisco Systems

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the transaction, the chief executive officer now owns 688,409 shares of the company’s stock, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 4,185 shares of the firm’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 transaction, the senior vice president now directly owns 38,103 shares of the company’s stock, valued at $2,419,921.53. The trade was a 9.90% decrease in their position. 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 ninety days. Corporate insiders own 0.01% of the company’s stock.

About Cisco Systems

(Free Report)

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.

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