Kercheville Advisors LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 68.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 21,689 shares of the network equipment provider's stock after acquiring an additional 8,800 shares during the period. Kercheville Advisors LLC's holdings in Cisco Systems were worth $1,338,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vista Investment Partners LLC grew its holdings in shares of Cisco Systems by 1.3% during the 1st quarter. Vista Investment Partners LLC now owns 23,020 shares of the network equipment provider's stock valued at $1,421,000 after purchasing an additional 295 shares during the last quarter. AA Financial Advisors LLC grew its stake in shares of Cisco Systems by 9.4% during the first quarter. AA Financial Advisors LLC now owns 4,416 shares of the network equipment provider's stock valued at $273,000 after buying an additional 381 shares during the last quarter. Inscription Capital LLC bought a new position in shares of Cisco Systems during the first quarter valued at about $2,825,000. JLB & Associates Inc. lifted its stake in shares of Cisco Systems by 1.4% in the 1st quarter. JLB & Associates Inc. now owns 34,838 shares of the network equipment provider's stock valued at $2,150,000 after acquiring an additional 481 shares during the last quarter. Finally, Blackston Financial Advisory Group LLC boosted its holdings in Cisco Systems by 13.7% during the 1st quarter. Blackston Financial Advisory Group LLC now owns 13,831 shares of the network equipment provider's stock valued at $854,000 after acquiring an additional 1,670 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Cisco Systems
In other Cisco Systems news, SVP Maria Victoria Wong sold 4,185 shares of Cisco Systems stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total value of $265,789.35. Following the completion of the sale, the senior vice president now owns 38,103 shares of the company's stock, valued at approximately $2,419,921.53. This trade represents a 9.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 29,784 shares of the business's stock in a transaction on Thursday, June 5th. The stock was 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 now owns 688,409 shares of the company's stock, valued at $44,478,105.49. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,931 shares of company stock worth $4,671,930. 0.01% of the stock is owned by corporate insiders.
Analyst Ratings Changes
CSCO has been the subject of several recent research reports. Piper Sandler boosted their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. increased their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Rosenblatt Securities upped their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Finally, Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Seven equities research 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 company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $69.11.
View Our Latest Research Report on Cisco Systems
Cisco Systems Stock Up 0.7%
CSCO traded up $0.48 during midday trading on Friday, reaching $66.32. The company's stock had a trading volume of 50,300,374 shares, compared to its average volume of 20,299,200. The stock's 50-day moving average is $61.20 and its 200-day moving average is $60.74. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.63. The firm has a market capitalization of $262.63 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 3.94 and a beta of 0.88. 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 (NASDAQ:CSCO - Get Free Report) last posted 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. The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. As a group, research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.
Cisco Systems Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid 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 2.47%. Cisco Systems's dividend payout ratio is currently 66.94%.
Cisco Systems Profile
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Free Report)
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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