Lecap Asset Management Ltd. Acquires Shares of 4,840 Cisco Systems, Inc. (NASDAQ:CSCO)

Lecap Asset Management Ltd. purchased a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,840 shares of the network equipment provider's stock, valued at approximately $299,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. Navigoe LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth approximately $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems during the 4th quarter worth $26,000. JDM Financial Group LLC grew its holdings in shares of Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after buying an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter valued at about $30,000. Finally, Campbell Capital Management Inc. purchased a new position in shares of Cisco Systems in the fourth quarter worth about $31,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CSCO. Citigroup upped their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. boosted their target price on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Piper Sandler increased their price target on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Finally, Barclays restated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $69.53.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 9,643 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the transaction, the executive vice president now owns 181,186 shares of the company's stock, valued at $11,505,311. This represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction dated 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 sale, the chief executive officer now directly owns 688,409 shares of the company's stock, valued at $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Trading Up 1.1%

Shares of CSCO stock opened at $68.95 on Friday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $69.25. The firm has a market cap of $273.04 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 4.08 and a beta of 0.88. The company has a 50-day moving average of $62.31 and a two-hundred day moving average of $61.02. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87.

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, topping analysts' consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company posted $0.88 EPS. On average, analysts predict 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. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.38%. Cisco Systems's payout ratio is presently 66.94%.

Cisco Systems 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.

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