Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners Investment Group LLC increased its stake in Cisco Systems by 12.3%, owning 33,795 shares worth approximately $2.01 million as of the latest reporting period.
• Insider Jeetendra I. Patel sold nearly 10,000 shares of Cisco stock, and EVP Oliver Tuszik sold 15,000 shares, indicating a decrease in their ownership percentages.
• Several research firms have raised their price targets for Cisco Systems, with a consensus price target of $70.55 and a "Moderate Buy" rating from analysts.

Chicago Partners Investment Group LLC raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 12.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,795 shares of the network equipment provider's stock after purchasing an additional 3,714 shares during the quarter. Chicago Partners Investment Group LLC's holdings in Cisco Systems were worth $2,013,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CSCO. Navigoe LLC purchased a new position in shares of Cisco Systems in the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems during the 4th quarter valued at approximately $26,000. JDM Financial Group LLC boosted its holdings in shares of Cisco Systems by 160.4% in the 4th 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. Fairway Wealth LLC increased its stake 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 acquiring an additional 400 shares during the period. Finally, Accent Capital Management LLC purchased a new position in shares of Cisco Systems during the first quarter worth $36,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Buying and Selling at Cisco Systems

In related news, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 257,162 shares of the company's stock, valued at approximately $16,450,653.14. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Oliver Tuszik sold 15,000 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total value of $952,950.00. Following the transaction, the executive vice president directly owned 131,676 shares in the company, valued at $8,365,376.28. This trade represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on CSCO. 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 report on Friday, July 18th. New Street Research restated a "neutral" rating and issued a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. Evercore ISI reiterated an "in-line" rating and set a $72.00 price target on shares of Cisco Systems in a research report on Monday, July 28th. CICC Research assumed coverage on Cisco Systems in a report on Monday, July 14th. They issued an "outperform" rating and a $78.00 price target for the company. Finally, Wolfe Research assumed coverage on shares of Cisco Systems in a research note on Tuesday, July 8th. They set a "peer perform" rating on the stock. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Cisco Systems has a consensus rating of "Moderate Buy" and a consensus price target of $70.55.

Cisco Systems Stock Up 1.0%

NASDAQ CSCO opened at $69.90 on Friday. The business has a fifty day moving average price of $67.31 and a 200 day moving average price of $62.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The company has a market cap of $276.80 billion, a P/E ratio of 28.53, a P/E/G ratio of 3.84 and a beta of 0.91. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $70.14.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The business had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 earnings per share. Research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, July 3rd. Cisco Systems's payout ratio is currently 66.94%.

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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