3Chopt Investment Partners LLC Grows Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

3Chopt Investment Partners LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 9.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,589 shares of the network equipment provider's stock after purchasing an additional 5,012 shares during the period. Cisco Systems makes up approximately 0.9% of 3Chopt Investment Partners LLC's holdings, making the stock its 24th biggest position. 3Chopt Investment Partners LLC's holdings in Cisco Systems were worth $3,492,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Cisco Systems by 49.5% during the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after purchasing an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in Cisco Systems by 37.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock worth $542,000 after acquiring an additional 2,474 shares in the last quarter. Whipplewood Advisors LLC bought a new stake in Cisco Systems during the 4th quarter worth approximately $169,000. Nwam LLC raised its stake in Cisco Systems by 3.3% during the 4th quarter. Nwam LLC now owns 19,176 shares of the network equipment provider's stock worth $1,135,000 after acquiring an additional 606 shares during the period. Finally, Proficio Capital Partners LLC raised its stake in Cisco Systems by 10,340.6% during the 4th quarter. Proficio Capital Partners LLC now owns 1,003,235 shares of the network equipment provider's stock worth $59,392,000 after acquiring an additional 993,626 shares during the period. Institutional investors own 73.33% of the company's stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded down $0.30 during midday trading on Friday, reaching $68.65. 26,213,514 shares of the stock traded hands, compared to its average volume of 20,235,237. 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 stock has a market capitalization of $271.85 billion, a PE ratio of 28.02, a P/E/G ratio of 4.10 and a beta of 0.88. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.22. The company's 50 day moving average is $62.57 and its 200 day moving average is $61.10.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted 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 firm had revenue of $14.15 billion during 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 company's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 EPS. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently declared 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. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.39%. Cisco Systems's dividend payout ratio is presently 66.94%.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 29,784 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the sale, the chief executive officer now directly owns 688,409 shares in the company, valued at $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the sale, the executive vice president now owns 174,669 shares of the company's stock, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock worth $6,271,054 over the last three months. 0.01% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on CSCO. KeyCorp began coverage on shares of Cisco Systems in a research note on Thursday. They set an "overweight" rating and a $77.00 target price on the stock. Piper Sandler raised their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Rosenblatt Securities raised their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. raised their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Finally, Citigroup raised their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Cisco Systems presently has a consensus rating of "Moderate Buy" and an average price target of $69.53.

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.