Cisco Systems, Inc. (NASDAQ:CSCO) Stock Position Lifted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 28.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,037,909 shares of the network equipment provider's stock after acquiring an additional 904,548 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.10% of Cisco Systems worth $249,180,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CSCO. Norges Bank acquired a new position in Cisco Systems in the fourth quarter valued at approximately $3,297,905,000. FMR LLC boosted its position in Cisco Systems by 20.8% during the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after purchasing an additional 13,285,052 shares during the period. Raymond James Financial Inc. bought a new position in Cisco Systems during the 4th quarter worth $560,722,000. Alyeska Investment Group L.P. acquired a new stake in Cisco Systems in the fourth quarter worth $413,491,000. Finally, GAMMA Investing LLC lifted its stake in Cisco Systems by 7,096.5% in the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock valued at $414,593,000 after buying an additional 6,625,045 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cisco Systems

In related 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 value of $1,924,344.24. Following the transaction, the chief executive officer now owns 688,409 shares in the company, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeetendra I. Patel sold 899 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the transaction, the insider now owns 255,377 shares in the company, valued at approximately $16,413,079.79. This trade represents a 0.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,931 shares of company stock valued at $4,671,930. Insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

NASDAQ CSCO opened at $65.84 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The company has a market cap of $260.73 billion, a PE ratio of 26.87, a PEG ratio of 3.91 and a beta of 0.88. The stock's 50-day moving average price is $61.02 and its two-hundred day moving average price is $60.69.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced 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 for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company's revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 EPS. On average, analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.49%. Cisco Systems's dividend payout ratio is 66.94%.

Analyst Ratings Changes

Several research firms have recently commented on CSCO. Rosenblatt Securities upped their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. New Street Research restated a "neutral" rating and issued a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Citigroup boosted their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $69.11.

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.

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.