Cisco Systems, Inc. (NASDAQ:CSCO) Position Boosted by Journey Strategic Wealth LLC

Journey Strategic Wealth LLC increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 45.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,951 shares of the network equipment provider's stock after acquiring an additional 9,055 shares during the quarter. Journey Strategic Wealth LLC's holdings in Cisco Systems were worth $1,787,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. FMR LLC increased 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 valued at $4,571,218,000 after buying 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 increased its stake in Cisco Systems by 11.4% in the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock valued at $2,796,505,000 after buying an additional 4,832,813 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Cisco Systems by 7.8% in 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 valued at $2,159,099,000 after buying an additional 2,637,006 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in 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.

Cisco Systems Stock Performance

Shares of CSCO traded up $0.40 during midday trading on Friday, hitting $68.69. 11,589,031 shares of the stock traded hands, compared to its average volume of 17,593,400. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $69.78. The firm has a market capitalization of $272.01 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 4.09 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 business's 50 day moving average price is $66.43 and its two-hundred day moving average price is $62.41.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same period in the previous year, the business earned $0.88 earnings per share. The company's revenue was up 11.4% on a year-over-year basis. Equities research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend was Thursday, July 3rd. Cisco Systems's dividend payout ratio is currently 66.94%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,407 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total value of $154,072.07. Following the sale, the executive vice president directly owned 177,027 shares in the company, valued at approximately $11,331,498.27. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the transaction, the executive vice president directly owned 174,669 shares in the company, valued at $11,447,806.26. This represents a 4.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock valued at $6,271,054 in the last quarter. 0.01% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Rosenblatt Securities boosted their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Morgan Stanley upped their target price on shares of Cisco Systems from $67.00 to $70.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Piper Sandler increased their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Wall Street Zen lowered shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $70.35.

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.