Ritholtz Wealth Management Increases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Ritholtz Wealth Management lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 31.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,052 shares of the network equipment provider's stock after purchasing an additional 18,409 shares during the quarter. Ritholtz Wealth Management's holdings in Cisco Systems were worth $4,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tallon Kerry Patrick purchased a new stake in Cisco Systems in the fourth quarter worth approximately $603,000. Brighton Jones LLC increased its stake in shares of Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock worth $4,392,000 after purchasing an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Cisco Systems by 37.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock valued at $542,000 after acquiring an additional 2,474 shares during the period. Root Financial Partners LLC bought a new stake in Cisco Systems during the 4th quarter valued at approximately $306,000. Finally, Banque Pictet & Cie SA raised its position in shares of Cisco Systems by 3.8% during the fourth quarter. Banque Pictet & Cie SA now owns 55,150 shares of the network equipment provider's stock valued at $3,250,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of research analyst reports. Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Wall Street Zen upgraded shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. 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. JPMorgan Chase & Co. boosted their price target on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and increased their target price for the stock from $65.00 to $73.00 in a report on Monday. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $69.11.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 9,643 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the completion of the transaction, the executive vice president now owns 181,186 shares of the company's stock, valued at approximately $11,505,311. This represents a 5.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the stock in a transaction that occurred 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 $44,478,105.49. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,931 shares of company stock worth $4,671,930. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Performance

NASDAQ:CSCO traded up $1.47 during midday trading on Monday, hitting $65.56. The company's stock had a trading volume of 5,805,159 shares, compared to its average volume of 20,105,666. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The firm has a market cap of $259.62 billion, a P/E ratio of 28.61, a P/E/G ratio of 4.16 and a beta of 0.88. The firm's 50 day moving average is $60.47 and its 200-day moving average is $60.58.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm's revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 earnings per share. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal 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 paid a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.50%. Cisco Systems's payout ratio is 66.94%.

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.