Cisco Systems, Inc. (NASDAQ:CSCO) Position Raised by PFG Advisors

PFG Advisors grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 49.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,367 shares of the network equipment provider's stock after purchasing an additional 8,344 shares during the period. PFG Advisors' holdings in Cisco Systems were worth $1,565,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CSCO. Navigoe LLC purchased a new position in shares of Cisco Systems in the 4th quarter worth $26,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Cisco Systems in the 4th quarter worth $26,000. JDM Financial Group LLC raised its position in shares of Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after buying an additional 300 shares during the period. Fairway Wealth LLC raised its position in shares of Cisco Systems by 224.7% in the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock worth $36,000 after buying an additional 400 shares during the period. Finally, Accredited Wealth Management LLC purchased a new position in shares of Cisco Systems in the 4th quarter worth $37,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and raised their price objective for the company from $65.00 to $73.00 in a research report on Monday, June 16th. KeyCorp assumed coverage on Cisco Systems in a research report on Thursday, June 26th. They issued an "overweight" rating and a $77.00 price objective on the stock. Morgan Stanley raised their price objective on Cisco Systems from $67.00 to $70.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Piper Sandler raised their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Finally, Evercore ISI lifted their target price on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.35.

Cisco Systems Stock Performance

CSCO stock traded up $0.40 during midday trading on Friday, reaching $68.69. The company had a trading volume of 11,589,031 shares, compared to its average volume of 21,326,080. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average price of $66.33 and a 200 day moving average price of $62.35. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.78. The firm has a market capitalization of $272.01 billion, a PE ratio of 28.04, a P/E/G ratio of 4.11 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results 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 return on equity of 26.48% and a net margin of 17.60%. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the previous year, the firm posted $0.88 earnings per share. Cisco Systems's quarterly revenue was up 11.4% compared to the same quarter last year. Analysts anticipate 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 was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.41 per share. The ex-dividend date was Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.39%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Insider Activity at Cisco Systems

In other news, insider Jeetendra I. Patel sold 899 shares of Cisco Systems stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the sale, the insider owned 255,377 shares of the company's stock, valued at approximately $16,413,079.79. The trade was a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total value of $154,072.07. Following the sale, the executive vice president directly owned 177,027 shares in the company, valued at approximately $11,331,498.27. This trade represents a 1.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,335 shares of company stock valued at $6,271,054. Company insiders own 0.01% of the company's stock.

About Cisco Systems

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.