Mirador Capital Partners LP Boosts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Mirador Capital Partners LP boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 34.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,848 shares of the network equipment provider's stock after buying an additional 6,388 shares during the period. Mirador Capital Partners LP's holdings in Cisco Systems were worth $1,533,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CSCO. Mainstream Capital Management LLC bought a new stake in Cisco Systems during the fourth quarter worth approximately $132,000. Proficio Capital Partners LLC increased its position in shares of Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after purchasing an additional 7,338 shares during the last quarter. CENTRAL TRUST Co raised its holdings in Cisco Systems by 4.8% during the 4th quarter. CENTRAL TRUST Co now owns 112,101 shares of the network equipment provider's stock valued at $6,636,000 after buying an additional 5,123 shares during the period. Investment Management Corp of Ontario boosted its stake in Cisco Systems by 44.6% during the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock worth $11,454,000 after buying an additional 59,680 shares during the period. Finally, Aveo Capital Partners LLC lifted its holdings in shares of Cisco Systems by 8.3% in the 4th quarter. Aveo Capital Partners LLC now owns 5,296 shares of the network equipment provider's stock worth $314,000 after acquiring an additional 407 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on CSCO shares. Rosenblatt Securities upped their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. boosted their price objective on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Wells Fargo & Company upgraded 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 research note on Thursday, May 15th. Citigroup raised their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Piper Sandler boosted their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Cisco Systems has a consensus rating of "Moderate Buy" and a consensus price target of $68.00.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares in the company, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Oliver Tuszik sold 15,000 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the sale, the executive vice president now owns 131,676 shares of the company's stock, valued at approximately $8,365,376.28. The trade was a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,616 shares of company stock valued at $2,640,095. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Up 0.0%

Shares of CSCO stock traded up $0.03 during mid-day trading on Wednesday, hitting $64.39. 14,550,027 shares of the stock traded hands, compared to its average volume of 20,172,965. The stock's fifty day moving average is $59.40 and its two-hundred day moving average is $60.20. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The stock has a market cap of $254.98 billion, a P/E ratio of 28.12, a P/E/G ratio of 4.16 and a beta of 0.88.

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

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems announced that its board has approved a stock repurchase 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 repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

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.