Uptown Financial Advisors LLC purchased a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,387 shares of the network equipment provider's stock, valued at approximately $271,000.
Several other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock worth $4,392,000 after purchasing an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Cisco Systems by 37.0% during 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. CoreFirst Bank & Trust purchased a new stake in shares of Cisco Systems during the fourth quarter valued at $598,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Cisco Systems during the fourth quarter valued at $650,000. Finally, Modern Wealth Management LLC increased its holdings in shares of Cisco Systems by 80.3% in the 4th quarter. Modern Wealth Management LLC now owns 64,401 shares of the network equipment provider's stock valued at $4,045,000 after acquiring an additional 28,675 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.
Insider Activity at Cisco Systems
In related news, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the transaction, the insider directly owned 257,162 shares in the company, valued at $16,450,653.14. The trade was a 3.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction on 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 transaction, the chief executive officer owned 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 97,335 shares of company stock worth $6,271,054 in the last quarter. Company insiders own 0.01% of the company's stock.
Analyst Ratings Changes
Several research firms have commented on CSCO. Piper Sandler increased their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Morgan Stanley upped their price objective on Cisco Systems from $67.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. New Street Research reiterated a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Finally, Barclays restated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Cisco Systems presently has a consensus rating of "Moderate Buy" and an average price target of $70.35.
Check Out Our Latest Analysis on Cisco Systems
Cisco Systems Trading Up 0.6%
NASDAQ CSCO traded up $0.40 during trading hours on Friday, hitting $68.69. 11,589,031 shares of the company's stock were exchanged, compared to its average volume of 17,593,400. The business's 50 day moving average is $66.43 and its 200-day moving average is $62.41. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.78. The firm has a market capitalization of $272.01 billion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 4.09 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95.
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 the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business's revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. As a group, analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.
About Cisco Systems
(
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.
Featured Articles
Before you consider Cisco Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cisco Systems wasn't on the list.
While Cisco Systems currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
