Raymond James Financial Inc. Has $619.60 Million Stock Position in Cisco Systems, Inc. $CSCO

Key Points

• Raymond James Financial Inc. increased its stake in Cisco Systems by 6.0%, now owning approximately 10,040,443 shares valued at about $619.6 million after acquiring an additional 568,786 shares.
• Cisco's quarterly earnings report showed earnings per share of $0.99, exceeding estimates, with revenue of $14.67 billion, a 7.6% increase year-over-year.
• The company declared a quarterly dividend of $0.41 per share, with an annualized yield of 2.5%, set to be paid on October 22nd.

Raymond James Financial Inc. boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,040,443 shares of the network equipment provider's stock after buying an additional 568,786 shares during the period. Raymond James Financial Inc. owned approximately 0.25% of Cisco Systems worth $619,596,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Legacy Financial Group Inc. lifted its position in Cisco Systems by 3.4% in the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after acquiring an additional 169 shares in the last quarter. Capital Advantage Inc. boosted its stake in shares of Cisco Systems by 1.0% during the 4th quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider's stock worth $1,028,000 after buying an additional 172 shares during the last quarter. Avalon Trust Co boosted its stake in shares of Cisco Systems by 5.4% during the 1st quarter. Avalon Trust Co now owns 3,433 shares of the network equipment provider's stock worth $212,000 after buying an additional 177 shares during the last quarter. Rossmore Private Capital boosted its stake in shares of Cisco Systems by 0.3% during the 1st quarter. Rossmore Private Capital now owns 69,220 shares of the network equipment provider's stock worth $4,272,000 after buying an additional 181 shares during the last quarter. Finally, Hemington Wealth Management boosted its stake in shares of Cisco Systems by 4.1% during the 1st quarter. Hemington Wealth Management now owns 4,803 shares of the network equipment provider's stock worth $296,000 after buying an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the transaction, the executive vice president owned 174,669 shares of the company's stock, valued at $11,447,806.26. This trade represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Oliver Tuszik sold 15,000 shares of Cisco Systems stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total transaction of $952,950.00. Following the transaction, the executive vice president directly owned 131,676 shares of the company's stock, valued at $8,365,376.28. This represents a 10.23% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,731 shares of company stock valued at $5,021,519. 0.01% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on CSCO. Wolfe Research began coverage on shares of Cisco Systems in a research note on Tuesday, July 8th. They set a "peer perform" rating for the company. Evercore ISI increased their price objective on shares of Cisco Systems from $72.00 to $74.00 and gave the stock an "in-line" rating in a research note on Thursday. HSBC reissued a "hold" rating and issued a $69.00 price target on shares of Cisco Systems in a report on Friday. Piper Sandler increased their price target on shares of Cisco Systems from $64.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Hsbc Global Res lowered shares of Cisco Systems from a "strong-buy" rating to a "hold" rating in a research report on Friday. Ten investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $74.53.

Cisco Systems Price Performance

NASDAQ:CSCO traded down $3.10 on Friday, hitting $66.20. The company had a trading volume of 40,854,477 shares, compared to its average volume of 21,893,252. The stock has a market capitalization of $262.15 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 2.83 and a beta of 0.91. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $67.98 and a two-hundred day moving average of $63.38. Cisco Systems, Inc. has a 52 week low of $47.85 and a 52 week high of $72.55.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01. The firm had revenue of $14.67 billion during the quarter, compared to the consensus estimate of $14.63 billion. Cisco Systems had a net margin of 18.45% and a return on equity of 27.02%. The company's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 earnings per share. On average, research 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 will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.5%. Cisco Systems's dividend payout ratio (DPR) is presently 62.60%.

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.