16,416 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Purchased by Advisor Resource Council

Advisor Resource Council acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 16,416 shares of the network equipment provider's stock, valued at approximately $1,009,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at about $26,000. Navigoe LLC bought a new stake in Cisco Systems during the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems during the 4th quarter worth approximately $26,000. JDM Financial Group LLC increased its holdings in shares of Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after purchasing an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Cisco Systems in the fourth quarter worth $30,000. Institutional investors own 73.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CSCO. New Street Research restated a "neutral" rating and issued a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Citigroup increased their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, Piper Sandler increased their target price on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.11.

Insiders Place Their Bets

In other news, EVP Deborah L. Stahlkopf sold 9,643 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.50, for a total value of $612,330.50. Following the transaction, the executive vice president now owns 181,186 shares in the company, valued at approximately $11,505,311. This represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Richard Scott Herren sold 15,678 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the transaction, the chief financial officer now owns 309,543 shares in the company, valued at approximately $20,281,257.36. This represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Up 0.7%

Shares of CSCO stock traded up $0.48 during mid-day trading on Friday, reaching $66.32. 50,354,241 shares of the company's stock traded hands, compared to its average volume of 20,096,309. The company's 50-day moving average price is $61.38 and its 200-day moving average price is $60.80. The company has a market cap of $262.63 billion, a P/E ratio of 27.07, a P/E/G ratio of 3.97 and a beta of 0.88. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.65.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the prior year, the firm earned $0.88 EPS. The company's revenue was up 11.4% compared to the same quarter last year. On average, equities analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.47%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

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. 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.