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

PUREfi Wealth LLC bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,921 shares of the network equipment provider's stock, valued at approximately $242,000.

Other hedge funds have also added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC grew its stake in Cisco Systems by 139.3% in the first quarter. Kingswood Wealth Advisors LLC now owns 102,266 shares of the network equipment provider's stock valued at $6,317,000 after purchasing an additional 59,531 shares in the last quarter. Accelerate Investment Advisors LLC bought a new stake in shares of Cisco Systems during the 1st quarter worth approximately $234,000. Cornerstone Wealth Management LLC boosted its holdings in shares of Cisco Systems by 1.2% in the 1st quarter. Cornerstone Wealth Management LLC now owns 42,886 shares of the network equipment provider's stock valued at $2,646,000 after buying an additional 489 shares during the last quarter. Cushing Capital Partners LLC bought a new position in shares of Cisco Systems in the first quarter valued at $1,003,000. Finally, Five Oceans Advisors acquired a new position in Cisco Systems during the first quarter worth $332,000. Institutional investors own 73.33% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on CSCO. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and upped their price target for the stock from $65.00 to $73.00 in a research report on Monday. JPMorgan Chase & Co. upped their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. New Street Research reissued a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a research report on Friday, May 16th. Finally, Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $69.11.

Cisco Systems Trading Down 0.3%

Shares of Cisco Systems stock opened at $65.33 on Wednesday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The stock has a market cap of $258.71 billion, a PE ratio of 26.67, a PEG ratio of 3.95 and a beta of 0.88. The firm has a 50-day moving average of $60.86 and a 200-day moving average of $60.66. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced 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 company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the firm earned $0.88 earnings per share. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. 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 2.51%. Cisco Systems's payout ratio is 66.94%.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer now owns 688,409 shares in the company, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total transaction of $154,072.07. Following the completion of the transaction, the executive vice president now directly owns 177,027 shares of the company's stock, valued at $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 three months, insiders have sold 72,931 shares of company stock valued at $4,671,930. 0.01% of the stock is owned by corporate insiders.

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.

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