Good Steward Wealth Advisors LLC Purchases New Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Good Steward Wealth Advisors LLC acquired a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,696 shares of the network equipment provider's stock, valued at approximately $290,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after purchasing an additional 13,285,052 shares during the period. Norges Bank acquired a new position in Cisco Systems in the 4th quarter valued at $3,297,905,000. Northern Trust Corp raised its position in Cisco Systems by 11.4% during the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock worth $2,796,505,000 after buying an additional 4,832,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Cisco Systems by 7.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider's stock valued at $2,159,099,000 after purchasing an additional 2,637,006 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Cisco Systems by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock valued at $1,741,597,000 after buying an additional 681,555 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. New Street Research reissued a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a report on Friday, May 16th. Piper Sandler increased their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and lifted their price target for the company from $65.00 to $73.00 in a report on Monday. Finally, Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems presently has an average rating of "Moderate Buy" and an average target price of $69.11.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $65.84 on Friday. The firm's fifty day simple moving average is $61.20 and its 200 day simple moving average is $60.74. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The firm has a market capitalization of $260.73 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 3.94 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping 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 company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter in the previous year, the firm posted $0.88 earnings per share. The firm's quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio is presently 66.94%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total value of $48,821.34. Following the transaction, the senior vice president now owns 36,937 shares in the company, valued at $2,366,553.59. The trade was a 2.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.50, for a total value of $612,330.50. Following the sale, the executive vice president now owns 181,186 shares of the company's stock, valued at $11,505,311. This represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,931 shares of company stock valued at $4,671,930 over the last 90 days. 0.01% of the stock is owned by corporate 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.

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