Chicago Capital LLC Has $3.23 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Chicago Capital LLC boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 39.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 52,281 shares of the network equipment provider's stock after buying an additional 14,740 shares during the period. Chicago Capital LLC's holdings in Cisco Systems were worth $3,226,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CSCO. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Navigoe LLC bought a new position in Cisco Systems in the 4th quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC bought a new position in Cisco Systems in the 4th quarter valued at approximately $26,000. JDM Financial Group LLC raised its stake in shares of Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after acquiring an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Cisco Systems during the fourth quarter valued at $30,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Activity at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 899 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the completion of the transaction, the insider now directly owns 255,377 shares in the company, valued at $16,413,079.79. This represents a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the company's stock in a transaction that occurred on 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 now owns 181,186 shares of the company's stock, valued at approximately $11,505,311. The trade was a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,931 shares of company stock valued at $4,671,930 in the last three months. Company insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

Cisco Systems stock opened at $65.51 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The firm's fifty day moving average price is $60.72 and its 200-day moving average price is $60.62. The stock has a market cap of $259.42 billion, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its 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 analyst estimates of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 EPS. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given 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 yield of 2.50%. Cisco Systems's dividend payout ratio (DPR) is currently 66.94%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CSCO. Piper Sandler increased their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. raised their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and boosted their price target for the stock from $65.00 to $73.00 in a report on Monday. New Street Research restated a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Finally, Rosenblatt Securities boosted 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. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $69.11.

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.

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