Annex Advisory Services LLC Has $1.60 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Annex Advisory Services LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 340.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,911 shares of the network equipment provider's stock after buying an additional 20,027 shares during the period. Annex Advisory Services LLC's holdings in Cisco Systems were worth $1,599,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Cisco Systems in the 4th quarter worth about $3,297,905,000. FMR LLC grew its position in Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after purchasing an additional 13,285,052 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $560,722,000. Alyeska Investment Group L.P. bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $413,491,000. Finally, GAMMA Investing LLC boosted its position in shares of Cisco Systems by 7,096.5% during the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock worth $414,593,000 after buying an additional 6,625,045 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Trading Up 2.2%

Shares of Cisco Systems stock traded up $1.44 on Friday, reaching $66.06. 20,913,335 shares of the company were exchanged, compared to its average volume of 20,135,416. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The firm has a market capitalization of $261.60 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The stock has a fifty day moving average price of $59.61 and a 200-day moving average price of $60.34.

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

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

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders 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 dividend on an annualized basis and a yield of 2.48%. Cisco Systems's dividend payout ratio (DPR) is currently 66.94%.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Wednesday, March 12th. The shares were 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 $2,693,013.45. This represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the business's 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 completion of the sale, the chief executive officer now directly owns 688,409 shares of the company's stock, valued at $44,478,105.49. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,400 shares of company stock worth $4,564,439. Insiders own 0.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CSCO. Citigroup raised their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Piper Sandler increased their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Finally, New Street Research reiterated a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a report on Friday, May 16th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $68.00.

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.