Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Greenleaf Trust

Greenleaf Trust boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 163,602 shares of the network equipment provider's stock after purchasing an additional 3,657 shares during the quarter. Greenleaf Trust's holdings in Cisco Systems were worth $10,096,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. FMR LLC lifted its stake in Cisco Systems by 20.8% in the 4th 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 in the last quarter. Norges Bank purchased a new stake in shares of Cisco Systems during the 4th quarter worth approximately $3,297,905,000. Northern Trust Corp raised its holdings in shares of 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 acquiring an additional 4,832,813 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Cisco Systems by 7.8% during the 4th 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 worth $2,159,099,000 after acquiring an additional 2,637,006 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Cisco Systems by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock worth $1,741,597,000 after acquiring an additional 681,555 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CSCO shares. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. KeyCorp began coverage on shares of Cisco Systems in a report on Thursday, June 26th. They issued an "overweight" rating and a $77.00 price target for the company. 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. New Street Research reaffirmed a "neutral" rating and issued a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.53.

Cisco Systems Stock Down 0.7%

Shares of CSCO stock traded down $0.51 on Thursday, hitting $68.76. The stock had a trading volume of 14,970,647 shares, compared to its average volume of 20,383,426. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The business has a 50 day moving average price of $64.84 and a 200 day moving average price of $61.75. The company has a market cap of $272.29 billion, a PE ratio of 28.07, a P/E/G ratio of 4.14 and a beta of 0.90. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm 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 quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 earnings per share. Research 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 disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the business's 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 completion of the transaction, the chief executive officer directly owned 688,409 shares in the company, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the transaction, the executive vice president owned 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 have sold a total of 97,335 shares of company stock valued at $6,271,054 over the last ninety days. Company insiders own 0.01% of the company's stock.

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.