State of Alaska Department of Revenue boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 595,626 shares of the network equipment provider's stock after acquiring an additional 22,190 shares during the quarter. State of Alaska Department of Revenue's holdings in Cisco Systems were worth $36,755,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mainstream Capital Management LLC acquired a new stake in shares of Cisco Systems during the 4th quarter worth about $132,000. Proficio Capital Partners LLC boosted its position in 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 acquiring an additional 7,338 shares during the last quarter. Investment Management Corp of Ontario raised its holdings in 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 acquiring an additional 59,680 shares during the last quarter. AlTi Global Inc. lifted its stake in shares of Cisco Systems by 49.8% during the 4th quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock worth $1,217,000 after purchasing an additional 6,811 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Cisco Systems in the fourth quarter valued at $282,000. Institutional investors and hedge funds own 73.33% of the company's stock.
Insider Activity at Cisco Systems
In related news, SVP Maria Victoria Wong sold 762 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of the transaction, the senior vice president now directly owns 36,937 shares in the company, valued at $2,366,553.59. This represents a 2.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the firm's stock in a transaction 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 sale, the chief executive officer now owns 688,409 shares in the company, valued at $44,478,105.49. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,931 shares of company stock valued at $4,671,930 in the last quarter. Insiders own 0.01% of the company's stock.
Cisco Systems Stock Up 0.8%
NASDAQ:CSCO traded up $0.51 during mid-day trading on Thursday, reaching $65.84. The stock had a trading volume of 22,661,981 shares, compared to its average volume of 20,178,995. The stock's 50 day simple moving average is $61.20 and its two-hundred day simple moving average is $60.74. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The company has a market capitalization of $260.73 billion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 3.94 and a beta of 0.88. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the previous year, the business earned $0.88 EPS. The business's quarterly revenue was up 11.4% on a year-over-year basis. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.
Cisco Systems Dividend Announcement
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 issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.
Wall Street Analysts Forecast Growth
CSCO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Evercore ISI upped their price target 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. Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Rosenblatt Securities upped their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Seven 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 company. According to MarketBeat.com, Cisco Systems presently has a consensus rating of "Moderate Buy" and an average target price of $69.11.
Check Out Our Latest Stock Analysis on Cisco Systems
About Cisco Systems
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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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