Cisco Systems, Inc. (NASDAQ:CSCO) Stake Raised by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. increased its holdings in Cisco Systems by 5.2% during the first quarter, owning a total of 415,811 shares worth approximately $25.66 million after purchasing an additional 20,453 shares.
• Cisco Systems recently reported quarterly earnings of $0.96 EPS, exceeding analysts' expectations of $0.92 and marking an 11.4% increase in revenue compared to the previous year.
• The stock's dividend yield stands at 2.39%, with a quarterly dividend of $0.41 recently paid to shareholders, as the firm maintains a payout ratio of 66.94%.

Avantax Advisory Services Inc. increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 415,811 shares of the network equipment provider's stock after purchasing an additional 20,453 shares during the period. Avantax Advisory Services Inc.'s holdings in Cisco Systems were worth $25,660,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. FMR LLC increased its holdings in shares of Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after acquiring an additional 13,285,052 shares in the last quarter. Norges Bank purchased a new position in Cisco Systems in the fourth quarter worth about $3,297,905,000. Northern Trust Corp lifted its position in shares of Cisco Systems by 11.4% during the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock valued at $2,796,505,000 after buying an additional 4,832,813 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Cisco Systems by 7.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider's stock valued at $2,159,099,000 after buying an additional 2,637,006 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Cisco Systems by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock valued at $1,741,597,000 after buying an additional 681,555 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CSCO has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $65.00 to $73.00 in a research note on Monday, June 16th. Piper Sandler increased their target price on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. CICC Research started coverage on Cisco Systems in a research note on Monday, July 14th. They issued an "outperform" rating and a $78.00 target price on the stock. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, KeyCorp initiated coverage on Cisco Systems in a research note on Thursday, June 26th. They set an "overweight" rating and a $77.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $70.35.

Insiders Place Their Bets

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the transaction, the executive vice president owned 174,669 shares of the company's stock, valued at $11,447,806.26. This represents a 4.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total value of $154,072.07. Following the completion of the transaction, the executive vice president directly owned 177,027 shares in the company, valued at $11,331,498.27. This trade represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Down 1.6%

CSCO traded down $1.12 on Monday, hitting $67.58. 9,748,085 shares of the company were exchanged, compared to its average volume of 21,242,773. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78. The company has a market cap of $267.60 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 4.11 and a beta of 0.90. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $66.43 and a two-hundred day moving average price of $62.46.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same period in the prior year, the firm posted $0.88 EPS. The business's quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Thursday, July 3rd. Cisco Systems's dividend payout ratio is currently 66.94%.

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.