Alpha Cubed Investments LLC Has $24.43 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Alpha Cubed Investments LLC reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 395,866 shares of the network equipment provider's stock after selling 18,144 shares during the quarter. Alpha Cubed Investments LLC's holdings in Cisco Systems were worth $24,429,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Proficio Capital Partners LLC raised its holdings in shares of Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after buying an additional 7,338 shares during the period. Golden State Wealth Management LLC increased its holdings in Cisco Systems by 10.8% during the 1st quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider's stock worth $389,000 after purchasing an additional 612 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Cisco Systems by 28.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock worth $249,180,000 after purchasing an additional 904,548 shares during the last quarter. Investment Management Corp of Ontario increased its holdings in Cisco Systems by 44.6% during the 4th quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock worth $11,454,000 after purchasing an additional 59,680 shares during the last quarter. Finally, AlTi Global Inc. increased its holdings in Cisco Systems by 49.8% during the 4th quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock worth $1,217,000 after purchasing an additional 6,811 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,726 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the sale, the executive vice president directly owned 174,669 shares of the company's stock, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard Scott Herren sold 15,678 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were 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 directly owned 309,543 shares of the company's stock, valued at $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock worth $6,271,054 in the last ninety days. Insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

CSCO stock traded down $0.44 during trading on Monday, hitting $68.93. The company had a trading volume of 22,606,868 shares, compared to its average volume of 20,365,212. The firm has a market capitalization of $272.96 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 4.15 and a beta of 0.90. The business has a 50 day moving average of $63.93 and a 200 day moving average of $61.51. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two 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.

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 for the quarter, topping the consensus estimate of $0.92 by $0.04. The business had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.88 earnings per share. As a group, research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share 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 $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CSCO shares. KeyCorp started coverage on Cisco Systems in a report on Thursday, June 26th. They set an "overweight" rating and a $77.00 price objective on the stock. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and boosted their target price for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Finally, Citigroup boosted their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $69.53.

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.