7,432 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Acquired by Elyxium Wealth LLC

Elyxium Wealth LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,432 shares of the network equipment provider's stock, valued at approximately $459,000.

Several other institutional investors have also recently modified their holdings of the stock. Navigoe LLC purchased a new stake in Cisco Systems in the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Cisco Systems during the 4th quarter valued at $26,000. JDM Financial Group LLC grew its stake in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after buying an additional 300 shares during the period. Runnymede Capital Advisors Inc. purchased a new stake in shares of Cisco Systems during the 4th quarter valued at $30,000. Finally, Fairway Wealth LLC grew its stake in shares of Cisco Systems by 224.7% during the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock valued at $36,000 after buying an additional 400 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Cisco Systems from $73.00 to $78.00 and gave the company an "overweight" rating in a research note on Thursday. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. New Street Research reaffirmed a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a research report on Friday, May 16th. KeyCorp assumed coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They set an "overweight" rating and a $77.00 price target for the company. Finally, Piper Sandler upped their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $70.35.

Cisco Systems Price Performance

NASDAQ CSCO opened at $68.05 on Friday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $69.78. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The stock has a market cap of $269.48 billion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 4.07 and a beta of 0.90. The company has a 50-day moving average price of $65.84 and a two-hundred day moving average price of $62.11.

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

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio is presently 66.94%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total value of $48,821.34. Following the completion of the sale, the senior vice president owned 36,937 shares in the company, valued at $2,366,553.59. This represents a 2.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 15,678 shares of the 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 sale, the chief financial officer owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,335 shares of company stock valued at $6,271,054. Corporate insiders own 0.01% of the company's stock.

Cisco Systems 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.

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