AAF Wealth Management LLC Takes $253,000 Position in Cisco Systems, Inc. (NASDAQ:CSCO)

AAF Wealth Management LLC purchased a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,272 shares of the network equipment provider's stock, valued at approximately $253,000.

A number of other institutional investors also recently made changes to their positions in the stock. Mainstream Capital Management LLC purchased a new stake in Cisco Systems in the 4th quarter worth approximately $132,000. Proficio Capital Partners LLC boosted its holdings in shares of Cisco Systems by 76.4% during the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock worth $1,003,000 after purchasing an additional 7,338 shares during the last quarter. CENTRAL TRUST Co grew its position in shares of Cisco Systems by 4.8% in the fourth quarter. CENTRAL TRUST Co now owns 112,101 shares of the network equipment provider's stock valued at $6,636,000 after purchasing an additional 5,123 shares during the period. Requisite Capital Management LLC acquired a new position in Cisco Systems in the fourth quarter valued at $1,670,000. Finally, Stonegate Investment Group LLC lifted its position in Cisco Systems by 0.8% during the fourth quarter. Stonegate Investment Group LLC now owns 1,539,557 shares of the network equipment provider's stock worth $91,142,000 after buying an additional 11,506 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CSCO has been the subject of several recent analyst reports. New Street Research restated a "neutral" rating and issued a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. UBS Group boosted their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. BNP Paribas raised shares of Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price target on the stock in a research note on Tuesday, January 28th. Wall Street Zen upgraded shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Finally, Piper Sandler upped their price objective on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares of the company's stock, valued at approximately $2,693,013.45. This trade represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the sale, the insider now owns 257,162 shares in the company, valued at approximately $16,450,653.14. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,431 shares of company stock worth $1,421,356. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Up 1.0%

Shares of NASDAQ CSCO traded up $0.65 during trading on Tuesday, reaching $63.76. 4,290,635 shares of the stock were exchanged, compared to its average volume of 20,271,353. The business's 50-day moving average price is $59.09 and its 200 day moving average price is $59.99. The company has a market capitalization of $252.51 billion, a price-to-earnings ratio of 27.85, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same period in the prior year, the company posted $0.88 EPS. Cisco Systems's quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

Cisco Systems announced that its board has approved a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.

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.