Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,955 shares of the network equipment provider's stock after acquiring an additional 6,421 shares during the quarter. Parsons Capital Management Inc. RI's holdings in Cisco Systems were worth $11,352,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Tallon Kerry Patrick acquired a new stake in Cisco Systems during the fourth quarter worth about $603,000. Brighton Jones LLC boosted its stake in shares of Cisco Systems by 49.5% during the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock worth $4,392,000 after acquiring an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Cisco Systems by 37.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock worth $542,000 after purchasing an additional 2,474 shares during the period. WCM Investment Management LLC raised its stake in shares of Cisco Systems by 152.6% during the 4th quarter. WCM Investment Management LLC now owns 88,025 shares of the network equipment provider's stock worth $5,210,000 after buying an additional 53,183 shares during the period. Finally, Quotient Wealth Partners LLC increased its holdings in Cisco Systems by 27.6% in the 4th quarter. Quotient Wealth Partners LLC now owns 10,703 shares of the network equipment provider's stock worth $634,000 after acquiring an additional 2,312 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the transaction, the executive vice president now directly owns 181,186 shares in the company, valued at $11,505,311. This trade represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 71,400 shares of company stock valued at $4,564,439. Insiders own 0.01% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CSCO shares. The Goldman Sachs Group upped their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. New Street Research restated a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a report on Friday, May 16th. Finally, Evercore ISI raised their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $68.00.

Cisco Systems Trading Down 1.1%

Shares of Cisco Systems stock traded down $0.75 on Tuesday, reaching $65.15. The company had a trading volume of 17,177,140 shares, compared to its average volume of 20,116,011. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The firm has a market cap of $257.99 billion, a PE ratio of 28.45, a PEG ratio of 4.16 and a beta of 0.88. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The firm's 50 day moving average price is $59.69 and its two-hundred day moving average price is $60.43.

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

Cisco Systems declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Cisco Systems Dividend Announcement

The company also recently disclosed 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 of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.52%. Cisco Systems's payout ratio is 66.94%.

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.