Neo Ivy Capital Management Purchases Shares of 34,202 Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Neo Ivy Capital Management acquired 34,202 shares of Cisco Systems, valued at approximately $2,111,000, reflecting growing institutional interest.
• Cisco's CFO sold 15,678 shares for over $1 million, resulting in a 4.82% decrease in his ownership stake, while several other insiders also executed significant share transactions.
• The company's most recent quarterly earnings report showed an EPS of $0.96, surpassing estimates, with revenues of $14.15 billion, an increase of 11.4% year-over-year.

Neo Ivy Capital Management purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 34,202 shares of the network equipment provider's stock, valued at approximately $2,111,000.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its position in Cisco Systems by 49.5% during the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock worth $4,392,000 after acquiring an additional 24,562 shares during the period. Revolve Wealth Partners LLC increased its position in Cisco Systems by 37.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock worth $542,000 after acquiring an additional 2,474 shares during the period. Segall Bryant & Hamill LLC bought a new position in Cisco Systems during the fourth quarter worth $650,000. Murphy & Mullick Capital Management Corp bought a new position in Cisco Systems during the fourth quarter worth $76,000. Finally, Financial Engines Advisors L.L.C. increased its holdings in Cisco Systems by 616.8% in the 4th quarter. Financial Engines Advisors L.L.C. now owns 30,256 shares of the network equipment provider's stock valued at $1,791,000 after buying an additional 26,035 shares during the period. Institutional investors own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In related news, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems 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 sale, the chief financial officer directly owned 309,543 shares in the company, valued at $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total value of $154,072.07. Following the completion of the sale, the executive vice president directly owned 177,027 shares in the company, valued at $11,331,498.27. This trade represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,335 shares of company stock worth $6,271,054. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded up $0.40 during trading hours on Friday, reaching $68.69. 11,589,031 shares of the stock traded hands, compared to its average volume of 17,593,400. The company has a market capitalization of $272.01 billion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 4.09 and a beta of 0.90. 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 52-week low of $44.50 and a 52-week high of $69.78. The company's 50-day simple moving average is $66.43 and its two-hundred day simple moving average is $62.41.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were given a $0.41 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.39%. Cisco Systems's dividend payout ratio is currently 66.94%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CSCO. KeyCorp began coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They set an "overweight" rating and a $77.00 target price on the stock. Wall Street Zen lowered shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and lifted their target price for the company from $65.00 to $73.00 in a research report on Monday, June 16th. JPMorgan Chase & Co. lifted their target price on shares of Cisco Systems from $73.00 to $78.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Finally, Piper Sandler upped their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $70.35.

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.