Opal Wealth Advisors LLC Buys 4,610 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Opal Wealth Advisors LLC increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 39.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,385 shares of the network equipment provider's stock after purchasing an additional 4,610 shares during the quarter. Opal Wealth Advisors LLC's holdings in Cisco Systems were worth $1,011,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, EVP Deborah L. Stahlkopf sold 9,643 shares of Cisco Systems stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.50, for a total value of $612,330.50. Following the sale, the executive vice president now owns 181,186 shares in the company, valued at $11,505,311. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeetendra I. Patel sold 9,961 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the sale, the insider now owns 257,162 shares in the company, valued at approximately $16,450,653.14. This trade represents a 3.73% 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 valued at $4,671,930 over the last three months. 0.01% of the stock is owned by company insiders.

Cisco Systems Stock Performance

NASDAQ:CSCO traded down $1.01 on Friday, reaching $64.09. 14,630,776 shares of the company's stock were exchanged, compared to its average volume of 20,161,810. The stock has a fifty day simple moving average of $60.47 and a 200-day simple moving average of $60.57. 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 firm has a market cap of $253.80 billion, a price-to-earnings ratio of 27.99, 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 data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The company 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%. Cisco Systems's revenue was up 11.4% compared to the same quarter last year. During the same period last year, the business earned $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 year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Analysts Set New Price Targets

A number of research analysts have recently commented on CSCO shares. New Street Research reissued a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Evercore ISI boosted their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Piper Sandler boosted their target price 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 equities research 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $68.00.

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.