NBC Securities Inc. Raises Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

NBC Securities Inc. raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 99,042.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,700 shares of the network equipment provider's stock after acquiring an additional 34,665 shares during the period. NBC Securities Inc.'s holdings in Cisco Systems were worth $2,141,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of CSCO. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter worth $26,000. Navigoe LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth $26,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth $26,000. JDM Financial Group LLC raised 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 acquiring an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter worth $30,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Performance

Shares of CSCO stock traded up $0.03 during trading hours on Wednesday, reaching $64.39. 14,767,043 shares of the company traded hands, compared to its average volume of 20,172,982. The firm has a 50-day moving average price of $59.40 and a 200 day moving average price of $60.20. The company 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. 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 12-month low of $44.50 and a 12-month high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company's revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 earnings per share. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

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

Cisco Systems declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CSCO. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Barclays restated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. JPMorgan Chase & Co. raised their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Piper Sandler raised their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the company 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $68.00.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares in the company, valued at $2,693,013.45. This represents a 1.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. The trade was a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,616 shares of company stock valued at $2,640,095 over the last 90 days. Insiders own 0.01% of the company's stock.

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.