Financiere des Professionnels Fonds d investissement inc. Boosts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Financiere des Professionnels Fonds d investissement inc. increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 70.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,624 shares of the network equipment provider's stock after buying an additional 10,983 shares during the period. Financiere des Professionnels Fonds d investissement inc.'s holdings in Cisco Systems were worth $1,643,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Navigoe LLC purchased a new stake in Cisco Systems in the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC purchased a new stake in Cisco Systems in the fourth quarter worth about $26,000. JDM Financial Group LLC grew its holdings in Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after purchasing an additional 300 shares during the period. Runnymede Capital Advisors Inc. purchased a new stake in Cisco Systems in the fourth quarter worth about $30,000. Finally, Campbell Capital Management Inc. purchased a new stake in Cisco Systems in the fourth quarter worth about $31,000. 73.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CSCO shares. KeyCorp started coverage on shares of Cisco Systems in a report on Thursday, June 26th. They issued an "overweight" rating and a $77.00 price objective on the stock. Citigroup increased their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and increased their price target for the company from $65.00 to $73.00 in a report on Monday, June 16th. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Piper Sandler increased their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $69.53.

Insider Activity

In related news, insider Jeetendra I. Patel sold 899 shares of the firm's stock in a transaction on 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 transaction, the insider directly owned 255,377 shares of the company's stock, valued at approximately $16,413,079.79. This trade represents a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the transaction, the chief financial officer directly owned 309,543 shares of the company's stock, valued at $20,281,257.36. The trade was a 4.82% 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 insiders.

Cisco Systems Stock Performance

CSCO traded down $0.44 during trading on Monday, hitting $68.93. The company's stock had a trading volume of 22,606,868 shares, compared to its average volume of 20,365,214. 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, Inc. has a one year low of $44.50 and a one year high of $69.78. The firm has a market cap of $272.96 billion, a PE ratio of 28.13, a P/E/G ratio of 4.15 and a beta of 0.90. The business's 50 day simple moving average is $63.93 and its 200-day simple moving average is $61.51.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm's revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 EPS. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.38%. Cisco Systems's payout ratio is 66.94%.

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.