Parcion Private Wealth LLC Takes Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Parcion Private Wealth LLC purchased a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,202 shares of the network equipment provider's stock, valued at approximately $259,000.

Several other institutional investors and hedge funds have also modified their holdings of CSCO. Norges Bank acquired a new position in shares of Cisco Systems during the fourth quarter valued at about $3,297,905,000. FMR LLC increased its holdings in shares of Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after buying an additional 13,285,052 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Cisco Systems during the fourth quarter worth approximately $413,491,000. GAMMA Investing LLC increased its holdings in shares of Cisco Systems by 7,096.5% during the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock worth $414,593,000 after buying an additional 6,625,045 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Cisco Systems by 187.9% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock valued at $442,749,000 after purchasing an additional 4,880,747 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of research reports. Wolfe Research initiated coverage on shares of Cisco Systems in a report on Tuesday, July 8th. They issued a "peer perform" rating for the company. KeyCorp started coverage on shares of Cisco Systems in a research note on Thursday, June 26th. They issued an "overweight" rating and a $77.00 price objective on the stock. Citigroup lifted their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Finally, Wall Street Zen lowered shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Eight investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Cisco Systems presently has a consensus rating of "Moderate Buy" and an average price target of $70.20.

Cisco Systems Price Performance

CSCO stock traded up $0.93 during trading on Thursday, reaching $68.30. 20,370,196 shares of the company were exchanged, compared to its average volume of 20,304,883. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78. The company has a 50-day moving average of $65.50 and a two-hundred day moving average of $61.96. The company has a market capitalization of $270.47 billion, a price-to-earnings ratio of 27.88, a P/E/G ratio of 4.03 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted 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. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same period in the prior year, the firm posted $0.88 EPS. The company's quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal 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 dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio is presently 66.94%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer directly owned 688,409 shares of the company's stock, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Oliver Tuszik sold 15,000 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president directly owned 131,676 shares in the company, valued at $8,365,376.28. This trade represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock valued at $6,271,054 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.