Birch Capital Management LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,752 shares of the network equipment provider’s stock after selling 213 shares during the period. Birch Capital Management LLC’s holdings in Cisco Systems were worth $91,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Costello Asset Management INC bought a new stake in Cisco Systems in the fourth quarter valued at approximately $26,000. Bainco International Investors bought a new stake in Cisco Systems in the fourth quarter valued at approximately $30,000. Navis Wealth Advisors LLC bought a new stake in Cisco Systems in the fourth quarter valued at approximately $30,000. Goodwin Investment Advisory bought a new position in shares of Cisco Systems during the 4th quarter worth approximately $31,000. Finally, Defined Wealth Management LLC acquired a new position in shares of Cisco Systems during the fourth quarter worth approximately $34,000. Institutional investors own 70.62% of the company’s stock.
In other Cisco Systems news, EVP Mark D. Chandler sold 3,024 shares of the firm’s stock in a transaction dated Friday, February 12th. The stock was sold at an average price of $47.21, for a total value of $142,763.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director M Michele Burns sold 13,982 shares of the firm’s stock in a transaction dated Friday, March 26th. The stock was sold at an average price of $51.55, for a total value of $720,772.10. Following the completion of the transaction, the director now owns 70,468 shares of the company’s stock, valued at approximately $3,632,625.40. The disclosure for this sale can be found here. Insiders have sold a total of 37,776 shares of company stock valued at $1,832,205 in the last quarter. 0.02% of the stock is owned by corporate insiders.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.03. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.92 billion. Cisco Systems had a return on equity of 32.64% and a net margin of 21.76%. During the same quarter in the prior year, the company earned $0.77 EPS. On average, sell-side analysts expect that Cisco Systems, Inc. will post 2.86 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 28th. Stockholders of record on Tuesday, April 6th will be paid a dividend of $0.37 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, April 5th. This represents a $1.48 annualized dividend and a dividend yield of 2.87%. Cisco Systems’s dividend payout ratio is presently 50.68%.
A number of equities analysts have recently weighed in on the company. Credit Suisse Group upped their target price on Cisco Systems from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 10th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Thursday, February 11th. Raymond James upped their target price on Cisco Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 10th. Piper Sandler upped their target price on Cisco Systems from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 10th. Finally, The Goldman Sachs Group raised Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $50.00 to $59.00 in a research report on Wednesday, March 31st. Thirteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $49.48.
About Cisco Systems
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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