Advocate Group LLC Has $12.29 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Advocate Group LLC decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 199,212 shares of the network equipment provider's stock after selling 3,947 shares during the quarter. Cisco Systems comprises approximately 2.2% of Advocate Group LLC's investment portfolio, making the stock its 7th biggest position. Advocate Group LLC's holdings in Cisco Systems were worth $12,293,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new stake in Cisco Systems during the fourth quarter worth approximately $26,000. Navigoe LLC acquired a new stake in Cisco Systems during the fourth quarter worth approximately $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems during the fourth quarter worth approximately $26,000. JDM Financial Group LLC grew its position in Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after buying an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Cisco Systems during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 4,185 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total transaction of $265,789.35. Following the completion of the sale, the senior vice president now directly owns 38,103 shares in the company, valued at approximately $2,419,921.53. This trade represents a 9.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 29,784 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the sale, the chief executive officer now owns 688,409 shares of the company's stock, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,335 shares of company stock worth $6,271,054. Company insiders own 0.01% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CSCO. Rosenblatt Securities increased their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Evercore ISI increased their price target on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. raised their target price on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Piper Sandler raised their target price on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Finally, Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $69.11.

Cisco Systems Price Performance

Shares of CSCO traded up $0.48 during trading hours on Friday, reaching $66.32. The stock had a trading volume of 50,354,241 shares, compared to its average volume of 20,096,309. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.65. The stock has a market capitalization of $262.63 billion, a PE ratio of 27.07, a PEG ratio of 3.97 and a beta of 0.88. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The company's 50-day moving average is $61.38 and its two-hundred day moving average is $60.79.

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, beating analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion during 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%. Cisco Systems's revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 EPS. Research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.47%. Cisco Systems's payout ratio is currently 66.94%.

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.