Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by 1858 Wealth Management LLC

1858 Wealth Management LLC boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 72.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,854 shares of the network equipment provider's stock after buying an additional 14,198 shares during the period. Cisco Systems accounts for approximately 1.8% of 1858 Wealth Management LLC's holdings, making the stock its 17th largest holding. 1858 Wealth Management LLC's holdings in Cisco Systems were worth $2,089,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CSCO. FMR LLC boosted its holdings in Cisco Systems by 20.8% in 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 acquiring an additional 13,285,052 shares during the last quarter. Norges Bank acquired a new position in Cisco Systems during the fourth quarter valued at approximately $3,297,905,000. Northern Trust Corp lifted its position in Cisco Systems by 11.4% during the fourth quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock valued at $2,796,505,000 after buying an additional 4,832,813 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Cisco Systems by 7.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider's stock valued at $2,159,099,000 after buying an additional 2,637,006 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Cisco Systems by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock valued at $1,741,597,000 after acquiring an additional 681,555 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CSCO. Barclays restated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Wall Street Zen raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and boosted their target price for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. Piper Sandler boosted their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Finally, New Street Research reiterated a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a report on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $69.11.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 29,784 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the sale, the chief executive officer now directly owns 688,409 shares in the company, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the 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 completion of the sale, the chief financial officer now directly owns 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 over the last quarter. 0.01% of the stock is owned by company insiders.

Cisco Systems Trading Up 0.7%

Shares of NASDAQ CSCO opened at $66.32 on Friday. The stock's 50 day moving average price is $61.38 and its two-hundred day moving average price is $60.79. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.65. The stock has a market capitalization of $262.63 billion, a P/E ratio of 27.07, a PEG ratio of 3.97 and a beta of 0.88. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50.

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 (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business's revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 EPS. On average, analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.47%. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

Cisco Systems Company 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.

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