Steward Partners Investment Advisory LLC Raises Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Steward Partners Investment Advisory LLC increased its holdings in Cisco Systems, Inc. by 3.9%, owning 486,284 shares valued at approximately $30 million as of the end of the recent quarter.
• Cisco Systems reported a quarterly earnings per share of $0.99, exceeding analysts' expectations, alongside a revenue increase of 7.6% year-over-year to $14.67 billion.
• The company announced a quarterly dividend of $0.41 per share, with a yield of 2.5%, to be paid on October 22nd, indicating a healthy return for shareholders.

Steward Partners Investment Advisory LLC grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 486,284 shares of the network equipment provider's stock after buying an additional 18,352 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Cisco Systems were worth $30,009,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Raymond James Financial Inc. lifted its holdings in Cisco Systems by 6.0% in the 1st quarter. Raymond James Financial Inc. now owns 10,040,443 shares of the network equipment provider's stock worth $619,596,000 after buying an additional 568,786 shares during the period. Roanoke Asset Management Corp NY lifted its holdings in Cisco Systems by 1.2% in the 1st quarter. Roanoke Asset Management Corp NY now owns 101,467 shares of the network equipment provider's stock worth $6,262,000 after buying an additional 1,181 shares during the period. Gen Wealth Partners Inc lifted its holdings in Cisco Systems by 3.9% in the 1st quarter. Gen Wealth Partners Inc now owns 25,333 shares of the network equipment provider's stock worth $1,563,000 after buying an additional 958 shares during the period. Thompson Davis & CO. Inc. purchased a new stake in Cisco Systems in the 1st quarter worth approximately $274,000. Finally, Redmond Asset Management LLC lifted its holdings in Cisco Systems by 1.3% in the 1st quarter. Redmond Asset Management LLC now owns 60,662 shares of the network equipment provider's stock worth $3,743,000 after buying an additional 785 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Down 4.5%

CSCO stock opened at $66.20 on Friday. Cisco Systems, Inc. has a twelve month low of $47.85 and a twelve month high of $72.55. The company has a quick ratio of 0.87, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The firm has a market cap of $262.15 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 3.67 and a beta of 0.91. The business has a 50 day moving average of $67.98 and a 200 day moving average of $63.36.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.01. Cisco Systems had a return on equity of 27.02% and a net margin of 18.45%. The company had revenue of $14.67 billion during the quarter, compared to analyst estimates of $14.63 billion. During the same quarter last year, the company earned $0.87 EPS. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. On average, research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, October 3rd. Cisco Systems's dividend payout ratio (DPR) is currently 62.60%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 899 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the sale, the insider directly owned 255,377 shares in the company, valued at approximately $16,413,079.79. This trade represents a 0.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the sale, the executive vice president owned 174,669 shares in the company, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,731 shares of company stock worth $5,021,519. Insiders own 0.01% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on CSCO. Citigroup increased their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. New Street Research reiterated a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a report on Friday, May 16th. Wells Fargo & Company increased their target price on Cisco Systems from $75.00 to $83.00 and gave the stock an "overweight" rating in a research report on Thursday. Bank of America increased their target price on Cisco Systems from $76.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. increased their target price on Cisco Systems from $73.00 to $78.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Ten research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $74.53.

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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