Diversify Wealth Management LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 5.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,161 shares of the network equipment provider's stock after acquiring an additional 4,163 shares during the period. Diversify Wealth Management LLC's holdings in Cisco Systems were worth $4,998,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of CSCO. Golden State Wealth Management LLC lifted its position in Cisco Systems by 10.8% in the 1st quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider's stock valued at $389,000 after acquiring an additional 612 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock worth $1,003,000 after buying an additional 7,338 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Cisco Systems by 28.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock worth $249,180,000 after buying an additional 904,548 shares during the last quarter. Investment Management Corp of Ontario boosted its stake in shares of Cisco Systems by 44.6% in the 4th quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock worth $11,454,000 after buying an additional 59,680 shares during the last quarter. Finally, AlTi Global Inc. boosted its stake in shares of Cisco Systems by 49.8% in the 4th quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock worth $1,217,000 after buying an additional 6,811 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems Trading Down 1.2%
Shares of CSCO stock traded down $0.81 during trading hours on Friday, reaching $67.95. 14,698,247 shares of the stock were exchanged, compared to its average volume of 20,363,229. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.78. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The company's 50-day moving average price is $65.02 and its 200-day moving average price is $61.81. The firm has a market capitalization of $269.08 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 4.11 and a beta of 0.90.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data 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 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 quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 EPS. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.
Cisco Systems Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.41%. Cisco Systems's payout ratio is presently 66.94%.
Insider Transactions at Cisco Systems
In other news, insider Jeetendra I. Patel sold 899 shares of the company's stock in a transaction that occurred 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 sale, the insider owned 255,377 shares of the company's stock, valued at approximately $16,413,079.79. This represents a 0.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 762 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of the sale, the senior vice president directly owned 36,937 shares of the company's stock, valued at $2,366,553.59. The trade was a 2.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,335 shares of company stock worth $6,271,054. Insiders own 0.01% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have issued reports on the company. Wall Street Zen downgraded Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Piper Sandler lifted their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. New Street Research reaffirmed a "neutral" rating and issued a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and lifted their price target for the stock from $65.00 to $73.00 in a report on Monday, June 16th. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems currently has an average rating of "Moderate Buy" and an average price target of $69.53.
Check Out Our Latest Analysis on CSCO
Cisco Systems Company Profile
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Free Report)
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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