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FourThought Financial Partners LLC Has $10.55 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

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Key Points

  • FourThought Financial Partners LLC reduced its holdings in Cisco Systems by 3.4%, owning 171,008 shares valued at approximately $10.55 million as of the end of the first quarter.
  • Several institutional investors have increased their stake in Cisco, with FMR LLC leading the way by lifting its position by 20.8% in the last quarter.
  • Cisco's recent quarterly earnings exceeded analysts’ expectations, reporting $0.96 earnings per share and revenues of $14.15 billion, reflecting an 11.4% year-over-year increase.
  • Five stocks to consider instead of Cisco Systems.

FourThought Financial Partners LLC reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 171,008 shares of the network equipment provider's stock after selling 5,931 shares during the quarter. Cisco Systems makes up approximately 1.1% of FourThought Financial Partners LLC's holdings, making the stock its 27th biggest position. FourThought Financial Partners LLC's holdings in Cisco Systems were worth $10,553,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Navigoe LLC acquired a new position in Cisco Systems during the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC bought a new position in shares of Cisco Systems during the 4th quarter worth approximately $26,000. JDM Financial Group LLC raised its position in shares of Cisco Systems by 160.4% during 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. Fairway Wealth LLC raised its position in shares of Cisco Systems by 224.7% during the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock worth $36,000 after purchasing an additional 400 shares during the period. Finally, Accredited Wealth Management LLC acquired a new position in shares of Cisco Systems during the fourth quarter worth approximately $37,000. 73.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of recent analyst reports. Rosenblatt Securities upped their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Wolfe Research assumed coverage on Cisco Systems in a research note on Tuesday, July 8th. They issued a "peer perform" rating for the company. JPMorgan Chase & Co. lifted their price target on Cisco Systems from $73.00 to $78.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Finally, CICC Research assumed coverage on Cisco Systems in a research note on Monday, July 14th. They set an "outperform" rating and a $78.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $70.35.

Read Our Latest Stock Report on Cisco Systems

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,726 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the sale, the executive vice president directly owned 174,669 shares in the company, valued at $11,447,806.26. This trade represents a 4.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 value of $1,027,222.56. Following the sale, the chief financial officer directly owned 309,543 shares of the company's stock, valued at $20,281,257.36. This represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,335 shares of company stock worth $6,271,054. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Up 0.8%

Cisco Systems stock traded up $0.53 during trading on Wednesday, reaching $68.49. 6,239,230 shares of the company's stock were exchanged, compared to its average volume of 21,169,645. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The company's 50-day moving average is $66.60 and its two-hundred day moving average is $62.56. The firm has a market cap of $271.20 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 4.06 and a beta of 0.90. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems's revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.88 earnings per share. On average, analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were given a $0.41 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.39%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems Company Profile

(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.

See Also

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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