Greenleaf Trust Purchases 3,657 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

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

A number of other large investors have also recently made changes to their positions in CSCO. Golden State Wealth Management LLC boosted its stake in Cisco Systems by 10.8% during the first quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider's stock valued at $389,000 after buying an additional 612 shares during the period. Proficio Capital Partners LLC grew its holdings in shares of Cisco Systems by 76.4% during the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock worth $1,003,000 after purchasing an additional 7,338 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Cisco Systems by 28.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock worth $249,180,000 after purchasing an additional 904,548 shares during the last quarter. Investment Management Corp of Ontario raised its stake in Cisco Systems by 44.6% in the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock valued at $11,454,000 after purchasing an additional 59,680 shares in the last quarter. Finally, AlTi Global Inc. lifted its position in Cisco Systems by 49.8% during the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock valued at $1,217,000 after purchasing an additional 6,811 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cisco Systems news, insider Jeetendra I. Patel sold 899 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the completion of the transaction, the insider owned 255,377 shares of the company's stock, valued at approximately $16,413,079.79. This trade represents a 0.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 762 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock valued at $6,271,054 over the last 90 days. 0.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CSCO. Wall Street Zen raised shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. JPMorgan Chase & Co. lifted their price target on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Wolfe Research started coverage on Cisco Systems in a research report on Tuesday. They set a "peer perform" rating on the stock. Rosenblatt Securities raised their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and a consensus price target of $69.53.

Cisco Systems Trading Up 1.0%

CSCO stock traded up $0.68 on Wednesday, reaching $69.27. The company's stock had a trading volume of 23,762,244 shares, compared to its average volume of 20,386,182. The firm has a market cap of $274.31 billion, a PE ratio of 28.27, a PEG ratio of 4.12 and a beta of 0.90. The business has a fifty day simple moving average of $64.40 and a two-hundred day simple moving average of $61.63. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95.

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 the consensus estimate of $0.92 by $0.04. The business had revenue of $14.15 billion during 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%. The company's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.88 EPS. As a group, research analysts forecast 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. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.37%. Cisco Systems's dividend payout ratio is presently 66.94%.

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.