Cisco Systems, Inc. (NASDAQ:CSCO) Stock Holdings Lifted by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 568,076 shares of the network equipment provider's stock after acquiring an additional 14,495 shares during the period. Cisco Systems accounts for 1.0% of MassMutual Private Wealth & Trust FSB's portfolio, making the stock its 21st largest position. MassMutual Private Wealth & Trust FSB's holdings in Cisco Systems were worth $35,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in Cisco Systems in the fourth quarter worth approximately $3,297,905,000. FMR LLC lifted its stake in Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after buying an additional 13,285,052 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Cisco Systems during the 4th quarter worth approximately $560,722,000. Alyeska Investment Group L.P. purchased a new stake in Cisco Systems in the 4th quarter worth about $413,491,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in Cisco Systems by 187.9% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock valued at $442,749,000 after purchasing an additional 4,880,747 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the transaction, the executive vice president now directly owns 191,184 shares of the company's stock, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 transaction, the executive vice president now owns 181,186 shares in the company, valued at $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. In the last quarter, insiders sold 41,616 shares of company stock worth $2,640,095. Corporate insiders own 0.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CSCO. Piper Sandler increased their price target on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. DZ Bank raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. UBS Group upped their price target on Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. boosted their target price on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Finally, Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.00.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded down $0.24 on Friday, hitting $62.81. 25,829,006 shares of the company were exchanged, compared to its average volume of 20,320,905. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock's 50 day moving average price is $59.30 and its 200 day moving average price is $60.10. The firm has a market capitalization of $248.73 billion, a P/E ratio of 27.43, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data 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. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the prior year, the company earned $0.88 EPS. The firm's revenue was up 11.4% compared to the same quarter last year. Sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its board has approved a share repurchase program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is 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.