Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 13.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 172,844 shares of the network equipment provider's stock after purchasing an additional 20,239 shares during the period. Apollon Wealth Management LLC's holdings in Cisco Systems were worth $10,666,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CSCO. Glass Jacobson Investment Advisors llc grew its position in shares of Cisco Systems by 8.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock valued at $123,000 after purchasing an additional 166 shares in the last quarter. BlackDiamond Wealth Management LLC boosted its position in Cisco Systems by 3.1% during 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 period. Legacy Financial Group Inc. boosted its position in Cisco Systems by 3.4% during 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 period. Capital Advantage Inc. boosted its position in Cisco Systems by 1.0% during 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 period. Finally, Lynx Investment Advisory raised its stake in shares of Cisco Systems by 3.9% during the fourth quarter. Lynx Investment Advisory now owns 4,593 shares of the network equipment provider's stock valued at $272,000 after acquiring an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Activity

In related news, EVP Deborah L. Stahlkopf sold 9,643 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the sale, the executive vice president directly owned 181,186 shares in the company, valued at approximately $11,505,311. This trade represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 29,784 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the sale, the chief executive officer owned 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. Insiders sold a total of 97,335 shares of company stock valued at $6,271,054 in the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CSCO shares. CICC Research began coverage on shares of Cisco Systems in a research note on Monday. They set an "outperform" rating and a $78.00 price objective for the company. Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Rosenblatt Securities increased their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Piper Sandler raised their price objective 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. Finally, Wall Street Zen downgraded shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $70.20.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded up $0.93 during midday trading on Thursday, reaching $68.30. The company's stock had a trading volume of 20,370,196 shares, compared to its average volume of 20,304,885. The stock has a fifty day moving average of $65.67 and a 200 day moving average of $62.03. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78. The firm has a market capitalization of $270.47 billion, a PE ratio of 27.88, a P/E/G ratio of 4.03 and a beta of 0.90. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion for 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 firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share. On average, equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed 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. This represents a $1.64 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is 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.