Carnegie Investment Counsel Boosts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Carnegie Investment Counsel increased its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 269,667 shares of the network equipment provider's stock after acquiring an additional 12,354 shares during the period. Carnegie Investment Counsel's holdings in Cisco Systems were worth $16,641,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Navigoe LLC bought a new stake in Cisco Systems in the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems in the 4th quarter worth approximately $26,000. JDM Financial Group LLC grew its position in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after purchasing an additional 300 shares during the period. Fairway Wealth LLC grew its position in Cisco Systems by 224.7% in the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock worth $36,000 after purchasing an additional 400 shares during the period. Finally, Accredited Wealth Management LLC bought a new stake in Cisco Systems in the 4th quarter worth approximately $37,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded down $0.33 during mid-day trading on Thursday, hitting $68.29. 13,525,514 shares of the company's stock traded hands, compared to its average volume of 18,074,402. The company's 50-day moving average is $66.33 and its two-hundred day moving average is $62.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The company has a market capitalization of $270.43 billion, a P/E ratio of 27.87, a PEG ratio of 4.11 and a beta of 0.90. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year 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 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The company 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 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 EPS. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were paid a $0.41 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.40%. Cisco Systems's dividend payout ratio is currently 66.94%.

Insiders Place Their Bets

In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the transaction, the chief financial officer directly owned 309,543 shares in the company, valued at $20,281,257.36. This represents a 4.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the transaction, the executive vice president owned 181,186 shares in the company, valued at $11,505,311. This represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and boosted their price objective for the company from $65.00 to $73.00 in a research report on Monday, June 16th. JPMorgan Chase & Co. boosted their price objective on shares of Cisco Systems from $73.00 to $78.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Piper Sandler boosted 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. Morgan Stanley boosted their price objective on shares of Cisco Systems from $67.00 to $70.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Finally, CICC Research assumed coverage on shares of Cisco Systems in a research report on Monday, July 14th. They set an "outperform" rating and a $78.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $70.35.

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.