Rehmann Capital Advisory Group lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 7.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,531 shares of the network equipment provider's stock after selling 4,451 shares during the period. Rehmann Capital Advisory Group's holdings in Cisco Systems were worth $3,365,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Navigoe LLC acquired a new stake in Cisco Systems during the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Cisco Systems in the 4th quarter valued at $26,000. JDM Financial Group LLC boosted 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 valued at $29,000 after purchasing an additional 300 shares during the period. Runnymede Capital Advisors Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at $30,000. Finally, Campbell Capital Management Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at $31,000. Institutional investors own 73.33% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently weighed in on CSCO shares. Evercore ISI increased their price target on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Rosenblatt Securities increased their price target on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Finally, Citigroup lifted their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $69.53.
Get Our Latest Report on Cisco Systems
Cisco Systems Stock Down 0.7%
NASDAQ CSCO traded down $0.51 on Thursday, reaching $68.76. The stock had a trading volume of 14,970,647 shares, compared to its average volume of 20,383,426. The business has a 50 day moving average price of $64.84 and a 200 day moving average price of $61.75. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $69.78. The company has a market capitalization of $272.29 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 4.14 and a beta of 0.90.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly 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. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the prior year, the business posted $0.88 EPS. Cisco Systems's quarterly revenue was up 11.4% on a year-over-year basis. On average, analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.39%. Cisco Systems's dividend payout ratio (DPR) is 66.94%.
Insider Activity at Cisco Systems
In related news, insider Jeetendra I. Patel sold 9,961 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the transaction, the insider directly owned 257,162 shares of the company's stock, valued at approximately $16,450,653.14. This trade represents a 3.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Oliver Tuszik sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the completion of the transaction, the executive vice president directly owned 131,676 shares in the company, valued at $8,365,376.28. The trade was a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock worth $6,271,054 over the last quarter. 0.01% of the stock is currently owned by corporate insiders.
Cisco Systems Profile
(
Free Report)
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.
Read More
Before you consider Cisco Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cisco Systems wasn't on the list.
While Cisco Systems currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
