Foundry Partners LLC Buys 22,474 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Foundry Partners LLC raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 361,577 shares of the network equipment provider's stock after purchasing an additional 22,474 shares during the period. Cisco Systems comprises 1.2% of Foundry Partners LLC's portfolio, making the stock its 20th biggest position. Foundry Partners LLC's holdings in Cisco Systems were worth $22,313,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CSCO. Norges Bank purchased a new stake in Cisco Systems during the 4th quarter valued at about $3,297,905,000. FMR LLC boosted its stake in shares of Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after buying an additional 13,285,052 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Cisco Systems in the fourth quarter worth about $413,491,000. GAMMA Investing LLC boosted its stake in shares of Cisco Systems by 7,096.5% in the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock worth $414,593,000 after buying an additional 6,625,045 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Cisco Systems by 187.9% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock worth $442,749,000 after buying an additional 4,880,747 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Down 0.4%

Shares of NASDAQ:CSCO traded down $0.25 during trading on Friday, reaching $68.05. 16,138,141 shares of the company traded hands, compared to its average volume of 20,303,674. The firm has a fifty day simple moving average of $65.84 and a 200 day simple moving average of $62.11. The firm has a market cap of $269.48 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 4.07 and a beta of 0.90. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $69.78. 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 announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. Analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm 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 annualized dividend and a yield of 2.41%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

Analysts Set New Price Targets

A number of brokerages have commented on CSCO. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Morgan Stanley increased their price objective on Cisco Systems from $67.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday. Evercore ISI raised their price target on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. New Street Research reiterated a "neutral" rating and issued a $70.00 target price on shares of Cisco Systems in a report on Friday, May 16th. Finally, Piper Sandler lifted their target price on 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, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $70.35.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 29,784 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 688,409 shares of the company's stock, valued at $44,478,105.49. This represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeetendra I. Patel sold 9,961 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the transaction, the insider directly owned 257,162 shares in the company, valued at approximately $16,450,653.14. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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 currently owned by insiders.

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.