L & S Advisors Inc increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 48.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,743 shares of the network equipment provider's stock after buying an additional 51,233 shares during the quarter. Cisco Systems accounts for approximately 1.2% of L & S Advisors Inc's holdings, making the stock its 17th biggest position. L & S Advisors Inc's holdings in Cisco Systems were worth $9,673,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Navigoe LLC acquired a new stake in Cisco Systems during the fourth quarter valued at $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems during the fourth quarter valued at $26,000. JDM Financial Group LLC lifted its position in shares of Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after buying an additional 300 shares during the last quarter. Fairway Wealth LLC lifted its position in shares of Cisco Systems by 224.7% in the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock worth $36,000 after buying an additional 400 shares during the last quarter. Finally, Accredited Wealth Management LLC acquired a new stake in shares of Cisco Systems in the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 73.33% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on CSCO shares. Wolfe Research initiated coverage on Cisco Systems in a research note on Tuesday, July 8th. They set a "peer perform" rating on the stock. Rosenblatt Securities upped their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. CICC Research started coverage on Cisco Systems in a research note on Monday, July 14th. They issued an "outperform" rating and a $78.00 price objective on the stock. Finally, Wall Street Zen downgraded Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued 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 $70.55.
Get Our Latest Analysis on CSCO
Cisco Systems Trading Down 1.1%
Shares of CSCO stock traded down $0.73 during trading hours on Tuesday, reaching $67.76. The company had a trading volume of 3,680,241 shares, compared to its average volume of 21,071,521. The company has a 50 day moving average of $66.98 and a 200 day moving average of $62.81. 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 firm has a market cap of $268.33 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 3.76 and a beta of 0.91. 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 posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 26.48% and a net margin of 17.60%. The firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 EPS. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.
Cisco Systems Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders 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 dividend yield of 2.4%. Cisco Systems's dividend payout ratio is 66.94%.
Insider Buying and Selling
In other news, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction 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 transaction, the insider owned 257,162 shares of the company's stock, valued at $16,450,653.14. This represents a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Oliver Tuszik sold 15,000 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the completion of the sale, the executive vice president owned 131,676 shares of the company's stock, valued at approximately $8,365,376.28. This represents a 10.23% decrease in their position. 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 over the last 90 days. 0.01% of the stock is currently owned by corporate insiders.
About Cisco Systems
(
Free Report)
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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