EWA LLC boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 113.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,209 shares of the network equipment provider's stock after acquiring an additional 5,967 shares during the quarter. EWA LLC's holdings in Cisco Systems were worth $692,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Tallon Kerry Patrick acquired a new stake in Cisco Systems in the 4th quarter valued at $603,000. Brighton Jones LLC lifted its holdings in Cisco Systems by 49.5% during the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after purchasing an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of 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 purchasing an additional 2,474 shares during the period. Blackston Financial Advisory Group LLC increased its stake in shares of Cisco Systems by 6.2% during the fourth quarter. Blackston Financial Advisory Group LLC now owns 12,161 shares of the network equipment provider's stock worth $720,000 after purchasing an additional 714 shares in the last quarter. Finally, Indie Asset Partners LLC acquired a new position in shares of Cisco Systems during the 4th quarter worth about $213,000. Institutional investors and hedge funds own 73.33% of the company's stock.
Cisco Systems Trading Up 1.6%
CSCO stock traded up $1.06 during mid-day trading on Monday, hitting $67.38. 33,917,945 shares of the company were exchanged, compared to its average volume of 20,152,340. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $67.74. The firm has a market capitalization of $266.82 billion, a P/E ratio of 27.50, a PEG ratio of 3.97 and a beta of 0.88. The business has a fifty day simple moving average of $61.38 and a 200-day simple moving average of $60.80. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data 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 quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company posted $0.88 EPS. On average, equities research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.
Cisco Systems Dividend Announcement
The company also recently announced 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 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is 66.94%.
Insider Buying and Selling at Cisco Systems
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 transaction of $571,902.04. Following the sale, the executive vice president now directly 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 link. Also, CEO Charles Robbins sold 29,784 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock valued at $6,271,054 in the last three months. 0.01% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
CSCO has been the subject of several research reports. Evercore ISI boosted their price objective on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. New Street Research reissued a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a research note on Friday, May 16th. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Piper Sandler upped their target price 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. Finally, Barclays restated an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $69.11.
Get Our Latest Stock Analysis on Cisco Systems
About Cisco Systems
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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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