GF Fund Management CO. LTD. lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 768,394 shares of the network equipment provider's stock after acquiring an additional 13,572 shares during the quarter. Cisco Systems makes up 1.1% of GF Fund Management CO. LTD.'s holdings, making the stock its 14th biggest holding. GF Fund Management CO. LTD.'s holdings in Cisco Systems were worth $47,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also added to or reduced their stakes in CSCO. 44 Wealth Management LLC boosted its position in shares of Cisco Systems by 5.1% during the first quarter. 44 Wealth Management LLC now owns 69,292 shares of the network equipment provider's stock valued at $4,276,000 after buying an additional 3,342 shares during the last quarter. Calamos Wealth Management LLC lifted its holdings in Cisco Systems by 84.8% during the first quarter. Calamos Wealth Management LLC now owns 21,915 shares of the network equipment provider's stock worth $1,352,000 after acquiring an additional 10,054 shares during the period. Calamos Advisors LLC lifted its holdings in Cisco Systems by 1.1% during the first quarter. Calamos Advisors LLC now owns 1,160,747 shares of the network equipment provider's stock worth $71,630,000 after acquiring an additional 12,553 shares during the period. Cohen Investment Advisors LLC lifted its holdings in Cisco Systems by 3.0% during the first quarter. Cohen Investment Advisors LLC now owns 54,295 shares of the network equipment provider's stock worth $3,351,000 after acquiring an additional 1,592 shares during the period. Finally, Aviance Capital Partners LLC raised its stake in shares of Cisco Systems by 4.5% in the first quarter. Aviance Capital Partners LLC now owns 94,758 shares of the network equipment provider's stock valued at $5,847,000 after buying an additional 4,053 shares during the period. 73.33% of the stock is currently owned by institutional investors.
Cisco Systems Stock Performance
CSCO stock traded down $0.44 during midday trading on Monday, reaching $68.93. The stock had a trading volume of 22,606,868 shares, compared to its average volume of 20,365,214. The stock 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 company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The firm has a fifty day simple moving average of $63.93 and a two-hundred day simple moving average of $61.51. 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 posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same period last year, the firm earned $0.88 EPS. The company's quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.
Cisco Systems Announces Dividend
The company also recently declared 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. This represents a $1.64 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is presently 66.94%.
Insider Activity
In other news, EVP Thimaya K. Subaiya sold 8,726 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the sale, the executive vice president owned 174,669 shares of the company's stock, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total value of $48,821.34. Following the sale, the senior vice president directly owned 36,937 shares in the company, valued at $2,366,553.59. This represents a 2.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
CSCO has been the topic of several research reports. Piper Sandler boosted their target price on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Citigroup boosted their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. boosted their target price on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Finally, Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and an average target price of $69.53.
Check Out Our Latest Research Report on Cisco Systems
Cisco Systems Company Profile
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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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