Scratch Capital LLC purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,461 shares of the network equipment provider's stock, valued at approximately $646,000. Cisco Systems makes up about 0.7% of Scratch Capital LLC's portfolio, making the stock its 20th largest holding.
Other institutional investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new stake in Cisco Systems during the fourth quarter valued at about $26,000. Navigoe LLC bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC purchased a new stake in Cisco Systems during the 4th quarter valued at about $26,000. JDM Financial Group LLC grew its position in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after acquiring an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new position in Cisco Systems in the 4th quarter worth approximately $30,000. Institutional investors own 73.33% of the company's stock.
Insider Activity at Cisco Systems
In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the transaction, the chief executive officer now directly owns 688,409 shares in the company, valued at $44,478,105.49. This represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the transaction, the executive vice president now directly owns 181,186 shares of the company's stock, valued at $11,505,311. This represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,931 shares of company stock worth $4,671,930. Corporate insiders own 0.01% of the company's stock.
Cisco Systems Stock Up 2.2%
Cisco Systems stock traded up $1.44 during trading hours on Monday, hitting $65.53. The stock had a trading volume of 5,805,159 shares, compared to its average volume of 20,105,343. The stock has a market capitalization of $259.50 billion, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The stock's 50-day moving average price is $60.47 and its 200-day moving average price is $60.58.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Cisco Systems's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems Dividend Announcement
The business also recently disclosed 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 of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.50%. Cisco Systems's dividend payout ratio (DPR) is 66.94%.
Analysts Set New Price Targets
Several research analysts recently commented on CSCO shares. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Piper Sandler increased their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and set a $73.00 price objective for the company in a report on Monday. Finally, Evercore ISI boosted their target price on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $69.11.
Get Our Latest Analysis on Cisco Systems
About Cisco Systems
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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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