Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 122,336 shares of the network equipment provider's stock after buying an additional 5,427 shares during the quarter. Axxcess Wealth Management LLC's holdings in Cisco Systems were worth $7,549,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. FMR LLC increased its position in Cisco Systems by 20.8% in the fourth 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. Norges Bank bought a new position in shares of Cisco Systems in the fourth quarter worth about $3,297,905,000. Northern Trust Corp grew its holdings in shares of Cisco Systems by 11.4% in the fourth quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock worth $2,796,505,000 after purchasing an additional 4,832,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Cisco Systems by 7.8% in the fourth 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 worth $2,159,099,000 after purchasing an additional 2,637,006 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Cisco Systems by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock worth $1,741,597,000 after purchasing an additional 681,555 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Rosenblatt Securities upped their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Barclays restated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. New Street Research restated a "neutral" rating and issued a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Piper Sandler upped their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. increased their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $69.53.

Insider Buying and Selling at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 2,407 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total transaction of $154,072.07. Following the sale, the executive vice president owned 177,027 shares of the company's stock, valued at $11,331,498.27. This trade represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the sale, the chief financial officer directly owned 309,543 shares in the company, valued at $20,281,257.36. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded down $0.81 during midday trading on Friday, hitting $67.95. The company had a trading volume of 14,698,247 shares, compared to its average volume of 20,360,928. The stock has a market cap of $269.08 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 4.07 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. The company has a fifty day simple moving average of $65.02 and a 200 day simple moving average of $61.82. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results 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. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the prior year, the company earned $0.88 EPS. Cisco Systems's quarterly revenue was up 11.4% on a year-over-year basis. As a group, analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.41%. Cisco Systems's payout ratio is 66.94%.

About Cisco Systems

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.