SteelPeak Wealth LLC Raises Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

SteelPeak Wealth LLC raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 7.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 659,715 shares of the network equipment provider's stock after acquiring an additional 44,222 shares during the period. Cisco Systems makes up 1.7% of SteelPeak Wealth LLC's portfolio, making the stock its 11th biggest position. SteelPeak Wealth LLC's holdings in Cisco Systems were worth $40,711,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock worth $4,392,000 after acquiring an additional 24,562 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock valued at $542,000 after purchasing an additional 2,474 shares during the period. Proficio Capital Partners LLC grew its holdings in Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after purchasing an additional 7,338 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Cisco Systems by 17.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 156,043 shares of the network equipment provider's stock worth $9,238,000 after buying an additional 23,250 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Cisco Systems by 21.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 16,427 shares of the network equipment provider's stock worth $972,000 after buying an additional 2,863 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Trading Down 0.7%

Cisco Systems stock opened at $68.76 on Friday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-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 $272.29 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 4.14 and a beta of 0.90. The firm has a 50-day moving average price of $64.84 and a two-hundred day moving average price of $61.75.

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 (EPS) for the quarter, topping the consensus estimate 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 firm posted $0.88 earnings per share. The business's revenue was up 11.4% on a year-over-year basis. Sell-side analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio is currently 66.94%.

Insiders Place Their Bets

In related news, CFO Richard Scott Herren sold 15,678 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer owned 309,543 shares of the company's stock, valued at $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeetendra I. Patel sold 899 shares of Cisco Systems stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the transaction, the insider owned 255,377 shares in the company, valued at approximately $16,413,079.79. This trade represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,335 shares of company stock valued at $6,271,054. Corporate insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CSCO. Rosenblatt Securities lifted their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Evercore ISI lifted their price objective on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Piper Sandler increased 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. Wall Street Zen raised shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Finally, New Street Research reissued a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a report on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems presently has an average rating of "Moderate Buy" and an average target price of $69.53.

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.

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