Cisco Systems, Inc. (NASDAQ:CSCO) Stake Boosted by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 23.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,188 shares of the network equipment provider's stock after purchasing an additional 13,104 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Cisco Systems were worth $4,270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CSCO. Glass Jacobson Investment Advisors llc raised its position in shares of Cisco Systems by 8.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock valued at $123,000 after purchasing an additional 166 shares during the period. Fairhaven Wealth Management LLC increased its stake in shares of Cisco Systems by 2.3% in the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock valued at $449,000 after purchasing an additional 167 shares during the last quarter. BlackDiamond Wealth Management LLC raised its stake in Cisco Systems by 3.1% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock worth $335,000 after acquiring an additional 168 shares in the last quarter. Legacy Financial Group Inc. lifted its stake in Cisco Systems by 3.4% in the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after purchasing an additional 169 shares during the last quarter. Finally, Maple Capital Management Inc. boosted its holdings in shares of Cisco Systems by 1.4% during the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock valued at $709,000 after acquiring an additional 170 shares in the last quarter. Institutional investors own 73.33% of the company's stock.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the transaction, the insider now owns 257,162 shares of the company's stock, valued at $16,450,653.14. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 4,185 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total value of $265,789.35. Following the sale, the senior vice president now owns 38,103 shares of the company's stock, valued at $2,419,921.53. This represents a 9.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,616 shares of company stock worth $2,640,095. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded up $0.41 on Thursday, hitting $64.80. 4,860,624 shares of the company were exchanged, compared to its average volume of 20,101,146. The stock has a market capitalization of $256.59 billion, a price-to-earnings ratio of 28.29, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $59.47 and a 200 day moving average price of $60.22. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50.

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 for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the previous year, the firm earned $0.88 EPS. The company's revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio is presently 66.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. New Street Research reiterated a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. The Goldman Sachs Group lifted their price target on Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. DZ Bank raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. Evercore ISI lifted their target price on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Finally, Rosenblatt Securities upped their price target on shares of Cisco Systems from $63.00 to $74.00 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, twelve have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus price target of $68.00.

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.