Iams Wealth Management LLC Has $1.46 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Iams Wealth Management LLC boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 431.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,644 shares of the network equipment provider's stock after purchasing an additional 19,194 shares during the period. Iams Wealth Management LLC's holdings in Cisco Systems were worth $1,459,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CSCO. Norges Bank acquired a new position in Cisco Systems during the 4th quarter worth $3,297,905,000. FMR LLC lifted its position 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 last quarter. Raymond James Financial Inc. acquired a new position in Cisco Systems in the fourth quarter worth about $560,722,000. Alyeska Investment Group L.P. bought a new stake in Cisco Systems in the fourth quarter valued at about $413,491,000. Finally, GAMMA Investing LLC raised its stake in Cisco Systems by 7,096.5% during the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock valued at $414,593,000 after buying an additional 6,625,045 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

Cisco Systems stock traded up $0.23 during mid-day trading on Thursday, hitting $64.62. The company's stock had a trading volume of 17,001,251 shares, compared to its average volume of 20,148,370. The stock has a market capitalization of $255.90 billion, a P/E ratio of 28.22, a P/E/G ratio of 4.16 and a beta of 0.88. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The stock's fifty day moving average price is $59.47 and its two-hundred day moving average price is $60.22. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. Research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed 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 is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.54%. Cisco Systems's payout ratio is 66.94%.

Cisco Systems announced that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Rosenblatt Securities boosted their price target on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Wall Street Zen raised shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. 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. Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus price target of $68.00.

Insider Buying and Selling

In related news, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the transaction, the insider now owns 257,162 shares in the company, valued at $16,450,653.14. This trade represents a 3.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the sale, the senior vice president now directly owns 44,155 shares in the company, valued at approximately $2,693,013.45. This represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,616 shares of company stock worth $2,640,095. Insiders own 0.01% of the company's stock.

Cisco Systems Company Profile

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.