Rossby Financial LCC acquired a new position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,971 shares of the network equipment provider's stock, valued at approximately $339,000.
Other large investors have also modified their holdings of the company. Navigoe LLC purchased a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $26,000. JDM Financial Group LLC lifted 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 acquiring an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. purchased a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $30,000. Finally, Campbell Capital Management Inc. purchased a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 73.33% of the company's stock.
Cisco Systems Stock Up 1.5%
Shares of CSCO traded up $1.05 on Friday, hitting $69.64. The company's stock had a trading volume of 17,973,495 shares, compared to its average volume of 20,350,689. The firm's fifty day moving average price is $63.93 and its 200-day moving average price is $61.48. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.78. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $275.77 billion, a price-to-earnings ratio of 28.42, a P/E/G ratio of 4.15 and a beta of 0.90.
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, beating 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 during the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter in the prior year, the company earned $0.88 earnings per share. The business's quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.
Cisco Systems Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders 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 dividend yield of 2.35%. Cisco Systems's dividend payout ratio (DPR) is 66.94%.
Insider Activity at Cisco Systems
In other news, CFO Richard Scott Herren sold 15,678 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the transaction, the chief financial officer directly owned 309,543 shares of the company's stock, valued at $20,281,257.36. This represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the transaction, the executive vice president directly owned 181,186 shares of the company's stock, valued at approximately $11,505,311. This trade represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock valued at $6,271,054 over the last ninety days. Company insiders own 0.01% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently commented on CSCO shares. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Evercore ISI lifted their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Piper Sandler boosted their target price on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Finally, KeyCorp initiated coverage on Cisco Systems in a research note on Thursday, June 26th. They set an "overweight" rating and a $77.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $69.53.
Check Out Our Latest Report on CSCO
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.
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