Stonegate Investment Group LLC boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,554,422 shares of the network equipment provider's stock after purchasing an additional 14,865 shares during the quarter. Cisco Systems makes up approximately 2.6% of Stonegate Investment Group LLC's holdings, making the stock its 11th largest holding. Stonegate Investment Group LLC's holdings in Cisco Systems were worth $95,923,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. FPC Investment Advisory Inc. bought a new stake in Cisco Systems in the fourth quarter valued at about $26,000. Navigoe LLC bought a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Cisco Systems during the 4th quarter valued at approximately $26,000. JDM Financial Group LLC lifted its stake in Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after purchasing an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems in the fourth quarter worth $30,000. 73.33% of the stock is owned by institutional investors and hedge funds.
Cisco Systems Price Performance
Shares of CSCO stock traded up $1.06 during midday trading on Monday, reaching $67.38. 33,917,945 shares of the company were exchanged, compared to its average volume of 20,152,335. The company's 50 day moving average price is $61.38 and its two-hundred day moving average price is $60.80. The company has a market cap of $266.82 billion, a P/E ratio of 27.50, a PEG ratio of 3.97 and a beta of 0.88. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $67.74. 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 (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 earnings per share. On average, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.
Cisco Systems Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.
Analyst Upgrades and Downgrades
CSCO has been the topic of a number of research reports. Citigroup increased their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Piper Sandler boosted their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and upped their target price for the company from $65.00 to $73.00 in a report on Monday, June 16th. Finally, Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and an average target price of $69.11.
Read Our Latest Research Report on CSCO
Insider Buying and Selling at Cisco Systems
In related news, SVP Maria Victoria Wong sold 4,185 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total value of $265,789.35. Following the completion of the transaction, the senior vice president now owns 38,103 shares in the company, valued at $2,419,921.53. This trade represents a 9.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now owns 688,409 shares in the company, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is owned by insiders.
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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