Cwm LLC Increases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

CWM LLC boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,161,868 shares of the network equipment provider's stock after buying an additional 36,019 shares during the quarter. CWM LLC's holdings in Cisco Systems were worth $71,699,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CSCO. FMR LLC grew its stake in shares of 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. Norges Bank bought a new stake in shares of Cisco Systems during the 4th quarter valued at about $3,297,905,000. Northern Trust Corp grew its stake in shares of Cisco Systems by 11.4% during the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock valued at $2,796,505,000 after purchasing an additional 4,832,813 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Cisco Systems by 7.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider's stock valued at $2,159,099,000 after purchasing an additional 2,637,006 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Cisco Systems by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock valued at $1,741,597,000 after purchasing an additional 681,555 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of recent research reports. Piper Sandler boosted their price target on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. New Street Research reiterated a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a research note on Friday, May 16th. Evercore ISI boosted their price objective on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Citigroup boosted their price objective on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $69.95.

Cisco Systems Trading Up 0.3%

NASDAQ:CSCO traded up $0.19 during midday trading on Wednesday, hitting $67.37. 15,155,264 shares of the company traded hands, compared to its average volume of 20,329,807. The firm's fifty day moving average is $65.34 and its 200-day moving average is $61.93. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.78. The firm has a market capitalization of $266.79 billion, a P/E ratio of 27.50, a P/E/G ratio of 4.02 and a beta of 0.90. 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 (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the prior year, the firm posted $0.88 EPS. Cisco Systems's quarterly revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The business 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. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.43%. Cisco Systems's payout ratio is presently 66.94%.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total value of $48,821.34. Following the transaction, the senior vice president owned 36,937 shares of the company's stock, valued at $2,366,553.59. This represents a 2.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeetendra I. Patel sold 899 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the completion of the transaction, the insider directly owned 255,377 shares in the company, valued at $16,413,079.79. This trade represents a 0.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock worth $6,271,054 in the last ninety days. Corporate insiders own 0.01% of the company's stock.

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.