Endeavor Private Wealth Inc. Raises Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Endeavor Private Wealth Inc. increased its holdings in Cisco Systems by 438.5% in Q1, raising its stake to 12,256 shares valued at $756,000.
• Several institutional investors also grew their positions in Cisco, with Brighton Jones LLC increasing their stake by 49.5%, bringing their holdings to 74,187 shares worth $4.39 million.
• Cisco Systems recently announced a quarterly dividend of $0.41, resulting in an annualized rate of $1.64 and a dividend yield of 2.4%.

Endeavor Private Wealth Inc. grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 438.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,256 shares of the network equipment provider's stock after buying an additional 9,980 shares during the quarter. Endeavor Private Wealth Inc.'s holdings in Cisco Systems were worth $756,000 at the end of the most recent reporting period.

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

Cisco Systems Stock Up 2.1%

Shares of Cisco Systems stock traded up $1.38 during trading on Monday, reaching $68.49. 17,046,413 shares of the company traded hands, compared to its average volume of 16,981,078. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $69.78. The company has a 50 day moving average price of $66.87 and a 200-day moving average price of $62.76. The firm has a market capitalization of $271.22 billion, a PE ratio of 27.96, a P/E/G ratio of 3.76 and a beta of 0.91.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 previous year, the company earned $0.88 EPS. Cisco Systems's quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were given a $0.41 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.4%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Cisco Systems from $67.00 to $70.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Rosenblatt Securities increased their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. CICC Research began coverage on shares of Cisco Systems in a research note on Monday, July 14th. They set an "outperform" rating and a $78.00 price objective on the stock. Evercore ISI reiterated an "in-line" rating and set a $72.00 price objective on shares of Cisco Systems in a research note on Monday, July 28th. Finally, Barclays restated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus target price of $70.35.

Insiders Place Their Bets

In other Cisco Systems news, insider Jeetendra I. Patel sold 899 shares of Cisco Systems stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total transaction of $57,778.73. Following the transaction, the insider directly owned 255,377 shares of the company's stock, valued at $16,413,079.79. The trade was a 0.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock worth $6,271,054 in the last quarter. Insiders own 0.01% of the company's stock.

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.