Cohen Investment Advisors LLC Acquires 235,811 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Cohen Investment Advisors LLC grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 447.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 288,514 shares of the network equipment provider's stock after purchasing an additional 235,811 shares during the quarter. Cohen Investment Advisors LLC's holdings in Cisco Systems were worth $17,804,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in Cisco Systems during the fourth quarter worth about $3,297,905,000. FMR LLC raised its stake in Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after acquiring an additional 13,285,052 shares during the period. Raymond James Financial Inc. acquired a new stake in Cisco Systems during the fourth quarter worth about $560,722,000. Alyeska Investment Group L.P. acquired a new stake in Cisco Systems during the fourth quarter worth about $413,491,000. Finally, GAMMA Investing LLC raised its stake in Cisco Systems by 7,096.5% during the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock worth $414,593,000 after acquiring an additional 6,625,045 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were 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 in the company, valued at $11,447,806.26. This represents a 4.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 4,185 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total transaction of $265,789.35. Following the completion of the sale, the senior vice president now owns 38,103 shares of the company's stock, valued at approximately $2,419,921.53. The trade was a 9.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,335 shares of company stock valued at $6,271,054. Company insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

NASDAQ:CSCO traded down $0.30 during trading hours on Friday, reaching $68.65. 26,213,514 shares of the company's stock were exchanged, compared to its average volume of 20,235,237. The company has a market capitalization of $271.85 billion, a P/E ratio of 28.02, a price-to-earnings-growth ratio of 4.10 and a beta of 0.88. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.22. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The business's 50-day simple moving average is $62.57 and its two-hundred day simple moving average is $61.10.

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 for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. Sell-side analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal 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 paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio is 66.94%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CSCO. Rosenblatt Securities raised their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Barclays restated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Piper Sandler raised their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Wall Street Zen upgraded shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $69.53.

Cisco Systems 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.