Confluence Wealth Services Inc. Grows Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Confluence Wealth Services Inc. increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 16.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,145 shares of the network equipment provider's stock after acquiring an additional 12,059 shares during the period. Confluence Wealth Services Inc.'s holdings in Cisco Systems were worth $5,254,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CSCO. Brighton Jones LLC boosted its position in Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after buying an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock valued at $542,000 after buying an additional 2,474 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in Cisco Systems in the fourth quarter valued at approximately $169,000. Nwam LLC boosted its position in Cisco Systems by 3.3% in the fourth quarter. Nwam LLC now owns 19,176 shares of the network equipment provider's stock valued at $1,135,000 after buying an additional 606 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its position in Cisco Systems by 10,340.6% in the fourth quarter. Proficio Capital Partners LLC now owns 1,003,235 shares of the network equipment provider's stock valued at $59,392,000 after buying an additional 993,626 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Stock Down 0.4%

CSCO traded down $0.30 during midday trading on Friday, hitting $68.65. The company had a trading volume of 26,213,514 shares, compared to its average volume of 20,235,237. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week 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 company has a market capitalization of $271.85 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 4.10 and a beta of 0.88. The stock's 50 day moving average price is $62.57 and its 200 day moving average price is $61.10.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (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 analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business's revenue was up 11.4% on a year-over-year basis. During the same period last year, the company earned $0.88 earnings per share. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared 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. This represents a $1.64 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Analyst Ratings Changes

CSCO has been the topic of a number of recent research reports. Evercore ISI lifted their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Citigroup lifted their price target 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. New Street Research reiterated a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. KeyCorp initiated coverage on shares of Cisco Systems in a report on Thursday. They set an "overweight" rating and a $77.00 price target on the stock. Finally, Rosenblatt Securities lifted their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $69.53.

Insider Buying and Selling

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

Cisco Systems Company 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.