Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Bingham Private Wealth LLC

Bingham Private Wealth LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 42.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,103 shares of the network equipment provider's stock after purchasing an additional 6,612 shares during the quarter. Cisco Systems accounts for approximately 1.4% of Bingham Private Wealth LLC's investment portfolio, making the stock its 16th largest holding. Bingham Private Wealth LLC's holdings in Cisco Systems were worth $1,364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CSCO. Navigoe LLC acquired a new position in Cisco Systems in the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC acquired a new position in Cisco Systems in the fourth quarter valued at approximately $26,000. JDM Financial Group LLC lifted its holdings 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 valued at $29,000 after acquiring an additional 300 shares during the period. Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems in the fourth quarter valued at approximately $30,000. Finally, Fairway Wealth LLC lifted its holdings in Cisco Systems by 224.7% in the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock valued at $36,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Buying and Selling

In other news, EVP Thimaya K. Subaiya sold 8,726 shares of the company'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 transaction, the executive vice president owned 174,669 shares of the company's stock, valued at $11,447,806.26. This represents a 4.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total value of $48,821.34. Following the completion of the transaction, the senior vice president directly owned 36,937 shares in the company, valued at approximately $2,366,553.59. This trade represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock worth $6,271,054 over the last quarter. Corporate insiders own 0.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wall Street Zen downgraded Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Evercore ISI boosted their price target on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. KeyCorp began coverage on Cisco Systems in a report on Thursday, June 26th. They issued an "overweight" rating and a $77.00 price target for the company. Wolfe Research began coverage on Cisco Systems in a research report on Tuesday, July 8th. They issued a "peer perform" rating for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and boosted their price objective for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $70.35.

Cisco Systems Stock Down 0.4%

Shares of CSCO opened at $68.05 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78. The stock has a market capitalization of $269.48 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 4.07 and a beta of 0.90. The stock has a 50 day moving average price of $65.84 and a 200 day moving average price of $62.11.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its 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 company had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.88 EPS. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.41%. The ex-dividend date is 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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