6,813 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Acquired by Caliber Wealth Management LLC KS

Key Points

• Caliber Wealth Management LLC KS initiated a new investment in Cisco Systems, acquiring 6,813 shares valued at approximately $420,000 in the first quarter.
• Insider transactions include Jeetendra I. Patel selling 9,961 shares for over $637,000 and CEO Charles Robbins selling 29,784 shares for nearly $1.93 million in recent months.
• Multiple analyst upgrades recently raised Cisco's price target, with firms like Rosenblatt Securities and Evercore ISI setting targets of $74.00 and $72.00, respectively.

Caliber Wealth Management LLC KS purchased a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,813 shares of the network equipment provider's stock, valued at approximately $420,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Brighton Jones LLC boosted its position in shares of Cisco Systems by 49.5% during the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after buying an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Cisco Systems by 37.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock valued at $542,000 after buying an additional 2,474 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $650,000. WINTON GROUP Ltd boosted its position in shares of Cisco Systems by 4.0% during the fourth quarter. WINTON GROUP Ltd now owns 72,178 shares of the network equipment provider's stock valued at $4,273,000 after buying an additional 2,750 shares during the last quarter. Finally, Sava Infond d.o.o. purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $291,000. 73.33% of the stock is currently owned by institutional investors.

Insider Transactions at Cisco Systems

In other news, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the transaction, the insider owned 257,162 shares of the company's stock, valued at approximately $16,450,653.14. This represents a 3.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 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. In the last three months, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Wall Street Zen cut Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Morgan Stanley lifted their price target on Cisco Systems from $67.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Finally, Rosenblatt Securities lifted their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.35.

Cisco Systems Trading Up 0.6%

Shares of NASDAQ CSCO traded up $0.41 during midday trading on Wednesday, reaching $68.37. The company had a trading volume of 5,042,288 shares, compared to its average volume of 21,161,711. The firm's fifty day moving average price is $66.60 and its 200-day moving average price is $62.56. The stock has a market cap of $270.73 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 4.06 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, Inc. has a one year low of $44.50 and a one year high of $69.78.

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

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Thursday, July 3rd. Cisco Systems's payout ratio is 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.