Narwhal Capital Management Acquires 24,882 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Narwhal Capital Management raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 15.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 182,268 shares of the network equipment provider's stock after purchasing an additional 24,882 shares during the quarter. Cisco Systems accounts for 1.0% of Narwhal Capital Management's portfolio, making the stock its 26th largest holding. Narwhal Capital Management's holdings in Cisco Systems were worth $11,248,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CSCO. FPC Investment Advisory Inc. acquired a new position in Cisco Systems in the fourth quarter valued at about $26,000. Navigoe LLC bought a new position in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $26,000. JDM Financial Group LLC grew its position in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after acquiring an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Cisco Systems during the 4th quarter valued at $30,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Up 0.7%

Shares of NASDAQ:CSCO opened at $66.32 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.65. The business's 50 day simple moving average is $61.38 and its two-hundred day simple moving average is $60.80. The firm has a market cap of $262.63 billion, a P/E ratio of 27.07, a PEG ratio of 3.97 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same period last year, the company earned $0.88 earnings per share. The business's revenue was up 11.4% on a year-over-year basis. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS 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. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is presently 66.94%.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of research analyst reports. Piper Sandler lifted 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. Wall Street Zen raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Finally, New Street Research reiterated a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.11.

Insider Buying and Selling at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 8,726 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the transaction, the executive vice president now directly owns 174,669 shares in the company, valued at $11,447,806.26. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 4,185 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total value of $265,789.35. Following the transaction, the senior vice president now directly owns 38,103 shares of the company's stock, valued at $2,419,921.53. The trade was a 9.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock valued at $6,271,054 in the last quarter. 0.01% of the stock is currently owned by corporate insiders.

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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