Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Baldwin Investment Management LLC

Key Points

• Baldwin Investment Management LLC increased its holdings in Cisco Systems by 55.5% in the first quarter, owning 12,972 shares valued at $801,000.
• Several institutional investors significantly modified their positions in Cisco, with Pacer Advisors Inc. raising its holdings by 1,144.2% and GAMMA Investing LLC increasing it by 7,096.5%.
• Cisco Systems reported earnings of $0.96 EPS for the last quarter, outperforming estimates, and announced a quarterly dividend of $0.41 with a yield of 2.39%.

Baldwin Investment Management LLC raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 55.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,972 shares of the network equipment provider's stock after buying an additional 4,630 shares during the period. Baldwin Investment Management LLC's holdings in Cisco Systems were worth $801,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kornitzer Capital Management Inc. KS boosted its holdings in shares of Cisco Systems by 0.7% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 892,064 shares of the network equipment provider's stock valued at $55,049,000 after acquiring an additional 6,501 shares in the last quarter. Golden State Wealth Management LLC grew its position in shares of Cisco Systems by 10.8% in the 1st quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider's stock valued at $389,000 after buying an additional 612 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Cisco Systems by 28.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock worth $249,180,000 after acquiring an additional 904,548 shares during the last quarter. Investment Management Corp of Ontario raised its position in shares of Cisco Systems by 44.6% during the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock worth $11,454,000 after acquiring an additional 59,680 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of Cisco Systems by 2.6% during the first quarter. IFP Advisors Inc now owns 111,510 shares of the network equipment provider's stock worth $6,882,000 after acquiring an additional 2,839 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Cisco Systems Trading Down 0.4%

Cisco Systems stock traded down $0.25 during midday trading on Thursday, reaching $68.04. The stock had a trading volume of 7,912,222 shares, compared to its average volume of 21,142,076. 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, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78. The firm has a market cap of $269.42 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 4.07 and a beta of 0.90. The company has a fifty day moving average of $66.70 and a 200 day moving average of $62.60.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its 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 company 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%. Cisco Systems's revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $0.88 earnings per share. On average, analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Thursday, July 3rd. Cisco Systems's payout ratio is currently 66.94%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Citigroup upped their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and increased their price objective for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. Piper Sandler increased their price objective on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Finally, New Street Research reissued a "neutral" rating and issued a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. Eight investment 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 stock has a consensus rating of "Moderate Buy" and an average price target of $70.35.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of the sale, the senior vice president owned 36,937 shares in the company, valued at $2,366,553.59. This represents a 2.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the stock in a transaction 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 owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. This represents a 4.82% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,335 shares of company stock worth $6,271,054. Corporate insiders own 0.01% of the company's stock.

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.