Adell Harriman & Carpenter Inc. Acquires 17,125 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Adell Harriman & Carpenter Inc. raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,535 shares of the network equipment provider's stock after acquiring an additional 17,125 shares during the quarter. Cisco Systems makes up 1.0% of Adell Harriman & Carpenter Inc.'s investment portfolio, making the stock its 26th largest holding. Adell Harriman & Carpenter Inc.'s holdings in Cisco Systems were worth $13,794,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Glass Jacobson Investment Advisors llc lifted its position in shares of Cisco Systems by 8.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock valued at $123,000 after buying an additional 166 shares during the last quarter. BlackDiamond Wealth Management LLC lifted its position in shares of Cisco Systems by 3.1% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock valued at $335,000 after buying an additional 168 shares during the last quarter. Legacy Financial Group Inc. lifted its position in shares of Cisco Systems by 3.4% in the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after buying an additional 169 shares during the last quarter. Capital Advantage Inc. lifted its position in shares of Cisco Systems by 1.0% in the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider's stock valued at $1,028,000 after buying an additional 172 shares during the last quarter. Finally, Lynx Investment Advisory lifted its position in shares of Cisco Systems by 3.9% in the fourth quarter. Lynx Investment Advisory now owns 4,593 shares of the network equipment provider's stock valued at $272,000 after buying an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Buying and Selling

In other news, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the transaction, the insider owned 257,162 shares in the company, valued at approximately $16,450,653.14. This trade represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the transaction, the chief executive officer owned 688,409 shares in the company, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by company insiders.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded up $1.05 during mid-day trading on Friday, reaching $69.64. The company had a trading volume of 17,973,495 shares, compared to its average volume of 20,350,689. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78. The firm has a market cap of $275.77 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 4.15 and a beta of 0.90. The business's 50-day simple moving average is $63.93 and its 200 day simple moving average is $61.51.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued 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. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter last year, the business earned $0.88 earnings per share. Cisco Systems's revenue was up 11.4% on a year-over-year basis. On average, research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.35%. Cisco Systems's payout ratio is 66.94%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wall Street Zen raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Piper Sandler raised their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Citigroup increased their target price on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Finally, New Street Research reiterated a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $69.53.

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.