4,691 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Acquired by Lansing Street Advisors

Lansing Street Advisors acquired a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 4,691 shares of the network equipment provider's stock, valued at approximately $289,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CSCO. FMR LLC increased its stake in Cisco Systems by 20.8% during 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 purchasing an additional 13,285,052 shares in the last quarter. Norges Bank acquired a new stake in shares of Cisco Systems during the fourth quarter worth $3,297,905,000. Northern Trust Corp grew its holdings in shares of Cisco Systems by 11.4% during the fourth 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of 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 acquiring an additional 2,637,006 shares during the period. Finally, Dimensional Fund Advisors LP raised 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 worth $1,741,597,000 after acquiring an additional 681,555 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded up $1.05 on Friday, hitting $69.64. The company's stock had a trading volume of 17,973,495 shares, compared to its average volume of 20,328,057. The company has a market capitalization of $275.77 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 4.15 and a beta of 0.90. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year 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. The firm has a fifty day moving average price of $63.93 and a 200-day moving average price of $61.45.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business had revenue of $14.15 billion during 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 business's revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.35%. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

Analysts Set New Price Targets

Several analysts have weighed in on CSCO shares. Piper Sandler boosted their price target on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. KeyCorp assumed coverage on Cisco Systems in a research report on Thursday, June 26th. They issued an "overweight" rating and a $77.00 target price on the stock. Citigroup increased their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock 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 research report on Friday, May 16th. Finally, New Street Research reaffirmed a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a report on Friday, May 16th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $69.53.

Insider Buying and Selling at Cisco Systems

In related news, insider Jeetendra I. Patel sold 899 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the transaction, the insider directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total value of $48,821.34. Following the sale, the senior vice president owned 36,937 shares of the company's stock, valued at approximately $2,366,553.59. This trade represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,335 shares of company stock valued at $6,271,054. Corporate 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.