Mission Wealth Management LP Has $3.92 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Mission Wealth Management LP boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 19.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,560 shares of the network equipment provider's stock after purchasing an additional 10,183 shares during the period. Mission Wealth Management LP's holdings in Cisco Systems were worth $3,922,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on CSCO. Citigroup lifted their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Rosenblatt Securities lifted their target price on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, Piper Sandler lifted their price objective on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.00.

Cisco Systems Stock Performance

CSCO stock opened at $64.09 on Monday. The business's 50-day moving average price is $60.47 and its two-hundred day moving average price is $60.58. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm has a market cap of $253.80 billion, a PE ratio of 27.99, a P/E/G ratio of 4.16 and a beta of 0.88. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50.

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

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued 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 2.56%. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

Insider Activity

In related news, CEO Charles Robbins sold 29,784 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the sale, the chief executive officer now owns 688,409 shares in the company, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total value of $154,072.07. Following the sale, the executive vice president now owns 177,027 shares in the company, valued at $11,331,498.27. The trade was a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,931 shares of company stock worth $4,671,930 over the last three months. 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.

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