24,615 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Acquired by Pullen Investment Management LLC

Pullen Investment Management LLC purchased a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 24,615 shares of the network equipment provider's stock, valued at approximately $1,519,000.

Other institutional investors also recently bought and sold shares of the company. CVA Family Office LLC boosted its stake in Cisco Systems by 2.2% during the first quarter. CVA Family Office LLC now owns 28,140 shares of the network equipment provider's stock worth $1,737,000 after acquiring an additional 608 shares in the last quarter. Elevation Point Wealth Partners LLC boosted its position in shares of Cisco Systems by 92.7% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 26,867 shares of the network equipment provider's stock worth $1,658,000 after purchasing an additional 12,925 shares in the last quarter. West Branch Capital LLC increased its position in Cisco Systems by 8.8% during the 1st quarter. West Branch Capital LLC now owns 48,444 shares of the network equipment provider's stock valued at $2,989,000 after buying an additional 3,900 shares in the last quarter. Everhart Financial Group Inc. raised its stake in Cisco Systems by 7.7% during the first quarter. Everhart Financial Group Inc. now owns 24,657 shares of the network equipment provider's stock valued at $1,522,000 after buying an additional 1,773 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Cisco Systems in the first quarter worth $226,000. 73.33% of the stock is owned by institutional investors.

Insider Activity at Cisco Systems

In other news, 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 value of $612,330.50. Following the completion of the sale, the executive vice president now directly owns 181,186 shares of the company's stock, valued at $11,505,311. This represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $1,924,344.24. Following the sale, the chief executive officer now owns 688,409 shares in the company, valued at $44,478,105.49. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,931 shares of company stock worth $4,671,930. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded down $0.18 during trading on Tuesday, hitting $65.33. The company's stock had a trading volume of 18,842,404 shares, compared to its average volume of 20,158,846. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The firm has a market cap of $258.71 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 3.95 and a beta of 0.88. The company has a 50-day moving average of $60.86 and a 200-day moving average of $60.66. 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 released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company's quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm earned $0.88 earnings per share. On average, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

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 issued a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.51%. Cisco Systems's dividend payout ratio is currently 66.94%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Evercore ISI upped 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. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and increased their price target for the company from $65.00 to $73.00 in a report on Monday. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. DZ Bank raised Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Finally, New Street Research reaffirmed a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $69.11.

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.