Calton & Associates Inc. raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 114.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,940 shares of the network equipment provider's stock after acquiring an additional 9,574 shares during the quarter. Calton & Associates Inc.'s holdings in Cisco Systems were worth $1,107,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Navigoe LLC purchased a new position in Cisco Systems in the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC purchased a new position in Cisco Systems in the fourth quarter worth about $26,000. JDM Financial Group LLC grew its position in 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 acquiring an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. purchased a new position in Cisco Systems in the fourth quarter worth about $30,000. Finally, Fairway Wealth LLC boosted its position in shares of Cisco Systems by 224.7% during the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock valued at $36,000 after buying an additional 400 shares during the period. 73.33% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several brokerages have issued reports on CSCO. Piper Sandler boosted their target price on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Evercore ISI boosted their target price on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Rosenblatt Securities boosted their target price on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. New Street Research restated a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Finally, Wolfe Research began coverage on Cisco Systems in a research report on Tuesday, July 8th. They set a "peer perform" rating for the company. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $70.35.
Check Out Our Latest Analysis on CSCO
Cisco Systems Stock Up 0.0%
Shares of CSCO stock traded up $0.03 during trading hours on Tuesday, reaching $68.37. 8,059,048 shares of the company's stock were exchanged, compared to its average volume of 20,233,989. The stock's 50 day moving average is $65.84 and its 200-day moving average is $62.13. The company has a market cap of $270.73 billion, a price-to-earnings ratio of 27.91, a P/E/G ratio of 4.07 and a beta of 0.90. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The business 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 business's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 earnings per share. Analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.
Cisco Systems Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.
Insider Transactions at Cisco Systems
In related news, CFO Richard Scott Herren sold 15,678 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was 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 of the company's stock, valued at $20,281,257.36. This represents a 4.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeetendra I. Patel sold 9,961 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the transaction, the insider directly owned 257,162 shares in the company, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock worth $6,271,054 over the last 90 days. Insiders own 0.01% of the company's stock.
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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