Cove Private Wealth LLC Buys 4,713 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Cove Private Wealth LLC increased its holdings in Cisco Systems, Inc. by 34.3%, acquiring an additional 4,713 shares to total 18,443 shares valued at approximately $1.14 million.
• Recently, Cisco reported a quarterly EPS of $0.96, exceeding analyst expectations of $0.92, with revenue increasing by 11.4% year-over-year.
• The company declared a quarterly dividend of $0.41 per share, reflecting an annualized yield of 2.3%, with a payout ratio of 66.94%.

Cove Private Wealth LLC boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 34.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 18,443 shares of the network equipment provider's stock after acquiring an additional 4,713 shares during the period. Cove Private Wealth LLC's holdings in Cisco Systems were worth $1,138,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CSCO. Navigoe LLC acquired a new stake in Cisco Systems during the 4th quarter worth $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems during the 4th quarter worth $26,000. JDM Financial Group LLC grew its holdings in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after acquiring an additional 300 shares during the period. Pandora Wealth Inc. acquired a new stake in Cisco Systems during the 1st quarter worth $31,000. Finally, Fairway Wealth LLC grew its holdings in Cisco Systems by 224.7% during the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock worth $36,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Trading Up 2.7%

Shares of NASDAQ:CSCO opened at $71.79 on Monday. The company's 50-day moving average price is $67.49 and its two-hundred day moving average price is $63.05. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $72.02. The stock has a market capitalization of $284.29 billion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 3.98 and a beta of 0.91.

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

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.3%. Cisco Systems's payout ratio is 66.94%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CSCO shares. JPMorgan Chase & Co. lifted their target price on shares of Cisco Systems from $73.00 to $78.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Wolfe Research started coverage on shares of Cisco Systems in a report on Tuesday, July 8th. They issued a "peer perform" rating for the company. Rosenblatt Securities boosted their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Evercore ISI reissued an "in-line" rating and issued a $72.00 price target on shares of Cisco Systems in a report on Monday, July 28th. Finally, Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $70.55.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 8,726 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the sale, the executive vice president directly owned 174,669 shares of the company's stock, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeetendra I. Patel sold 899 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $64.27, for a total transaction of $57,778.73. Following the completion of the sale, the insider directly owned 255,377 shares in the company, valued at approximately $16,413,079.79. The trade was a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is currently owned by company insiders.

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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