Sagespring Wealth Partners LLC Acquires 11,644 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Sagespring Wealth Partners LLC lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 30.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,270 shares of the network equipment provider's stock after purchasing an additional 11,644 shares during the period. Sagespring Wealth Partners LLC's holdings in Cisco Systems were worth $3,102,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Mainstream Capital Management LLC acquired a new position in Cisco Systems during the fourth quarter valued at approximately $132,000. Proficio Capital Partners LLC boosted its position in shares of Cisco Systems by 76.4% during the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock worth $1,003,000 after purchasing an additional 7,338 shares in the last quarter. Investment Management Corp of Ontario grew its holdings in shares of Cisco Systems by 44.6% in the 4th quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock valued at $11,454,000 after buying an additional 59,680 shares during the period. Aveo Capital Partners LLC increased its position in shares of Cisco Systems by 8.3% in the 4th quarter. Aveo Capital Partners LLC now owns 5,296 shares of the network equipment provider's stock valued at $314,000 after buying an additional 407 shares in the last quarter. Finally, AlTi Global Inc. lifted its holdings in Cisco Systems by 49.8% during the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock worth $1,217,000 after acquiring an additional 6,811 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Activity

In other news, CEO Charles Robbins sold 29,784 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 688,409 shares of the company's stock, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Oliver Tuszik sold 15,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the completion of the transaction, the executive vice president now owns 131,676 shares in the company, valued at approximately $8,365,376.28. The trade was a 10.23% 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. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

Shares of CSCO traded up $0.51 during mid-day trading on Thursday, reaching $65.84. The company's stock had a trading volume of 22,661,981 shares, compared to its average volume of 20,178,995. 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 $66.50. The business has a 50-day simple moving average of $61.02 and a two-hundred day simple moving average of $60.69. The stock has a market cap of $260.73 billion, a P/E ratio of 26.87, a PEG ratio of 3.91 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company's revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 earnings per share. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio is 66.94%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CSCO. Deutsche Bank Aktiengesellschaft raised 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 research note on Monday. Evercore ISI increased their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. New Street Research restated a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a report on Friday, May 16th. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Seven equities research 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 data from MarketBeat.com, Cisco Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.11.

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.