MADDEN SECURITIES Corp Sells 485 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

MADDEN SECURITIES Corp trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,870 shares of the network equipment provider’s stock after selling 485 shares during the quarter. MADDEN SECURITIES Corp’s holdings in Cisco Systems were worth $243,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Pearl River Capital LLC bought a new position in Cisco Systems during the third quarter worth $506,000. Rathbones Group PLC increased its stake in Cisco Systems by 2,422.3% during the 3rd quarter. Rathbones Group PLC now owns 356,396 shares of the network equipment provider’s stock worth $19,160,000 after acquiring an additional 342,266 shares during the period. V Square Quantitative Management LLC increased its position in shares of Cisco Systems by 1,230.9% in the third quarter. V Square Quantitative Management LLC now owns 3,487 shares of the network equipment provider’s stock worth $187,000 after purchasing an additional 3,225 shares during the period. Dark Forest Capital Management LP raised its stake in Cisco Systems by 1.7% in the third quarter. Dark Forest Capital Management LP now owns 34,569 shares of the network equipment provider’s stock valued at $1,858,000 after purchasing an additional 581 shares in the last quarter. Finally, Rodgers Brothers Inc. lifted its position in Cisco Systems by 6.9% during the third quarter. Rodgers Brothers Inc. now owns 17,669 shares of the network equipment provider’s stock worth $950,000 after purchasing an additional 1,136 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of 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 SEC, which is available at this hyperlink. In other news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the transaction, the chief executive officer now owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s 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 owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The disclosure for this sale can be found here. Insiders sold a total of 41,106 shares of company stock valued at $1,908,923 over the last quarter. 0.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CSCO shares. Barclays upped their target price on Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, May 17th. BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research note on Monday, May 13th. Piper Sandler reiterated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. Finally, Morgan Stanley initiated coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $56.47.

Cisco Systems Stock Performance

Shares of CSCO opened at $46.72 on Friday. Cisco Systems, Inc. has a 52-week low of $44.95 and a 52-week high of $58.19. The stock’s 50-day simple moving average is $47.16 and its 200 day simple moving average is $48.84. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The stock has a market capitalization of $188.23 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 2.66 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same period in the prior year, the firm posted $0.88 earnings per share. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. Research analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company 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 $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.42%. Cisco Systems’s payout ratio is 53.87%.

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.