Thurston Springer Miller Herd & Titak Inc. Purchases 15,797 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Thurston Springer Miller Herd & Titak Inc. boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 25.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 78,010 shares of the network equipment provider's stock after acquiring an additional 15,797 shares during the period. Cisco Systems accounts for approximately 0.8% of Thurston Springer Miller Herd & Titak Inc.'s portfolio, making the stock its 22nd largest holding. Thurston Springer Miller Herd & Titak Inc.'s holdings in Cisco Systems were worth $4,814,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CSCO. Mainstream Capital Management LLC purchased a new stake in Cisco Systems during the 4th quarter worth about $132,000. Proficio Capital Partners LLC increased 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 valued at $1,003,000 after buying an additional 7,338 shares during the period. Investment Management Corp of Ontario boosted its position in shares of Cisco Systems by 44.6% in the fourth 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 period. Aveo Capital Partners LLC grew its stake in Cisco Systems by 8.3% during the fourth quarter. Aveo Capital Partners LLC now owns 5,296 shares of the network equipment provider's stock valued at $314,000 after acquiring an additional 407 shares in the last quarter. Finally, AlTi Global Inc. increased its holdings in 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 acquiring an additional 6,811 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the transaction, the executive vice president now directly owns 191,184 shares of the company's stock, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the firm's 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 directly 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. Over the last 90 days, insiders have sold 71,400 shares of company stock worth $4,564,439. Insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

Shares of CSCO stock traded up $1.44 during trading hours on Friday, hitting $66.06. 20,913,335 shares of the company's stock were exchanged, compared to its average volume of 20,116,730. The company has a market capitalization of $261.60 billion, a PE ratio of 28.85, a PEG ratio of 4.16 and a beta of 0.88. The company has a current ratio of 0.87, a quick ratio of 0.79 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 $66.61. The business's 50 day simple moving average is $59.52 and its 200-day simple moving average is $60.27.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter last year, the company earned $0.88 EPS. The firm's revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems declared that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio is presently 66.94%.

Analysts Set New Price Targets

CSCO has been the subject of several analyst reports. UBS Group raised their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. DZ Bank raised Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, Rosenblatt Securities upped their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $68.00.

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.