Wakefield Asset Management LLLP Purchases Shares of 7,335 Cisco Systems, Inc. (NASDAQ:CSCO)

Wakefield Asset Management LLLP purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,335 shares of the network equipment provider's stock, valued at approximately $453,000.

A number of other hedge funds have also modified their holdings of the stock. J. W. Coons Advisors LLC increased its stake in shares of Cisco Systems by 1.7% in the first quarter. J. W. Coons Advisors LLC now owns 59,158 shares of the network equipment provider's stock worth $3,651,000 after acquiring an additional 964 shares during the last quarter. Convergence Investment Partners LLC raised its holdings in shares of Cisco Systems by 107.0% during the 1st quarter. Convergence Investment Partners LLC now owns 89,225 shares of the network equipment provider's stock valued at $5,506,000 after purchasing an additional 46,127 shares in the last quarter. JPL Wealth Management LLC bought a new position in shares of Cisco Systems during the 1st quarter valued at $4,861,000. Redwood Park Advisors LLC raised its holdings in shares of Cisco Systems by 7.1% during the 1st quarter. Redwood Park Advisors LLC now owns 5,773 shares of the network equipment provider's stock valued at $356,000 after purchasing an additional 382 shares in the last quarter. Finally, SYM FINANCIAL Corp raised its holdings in shares of Cisco Systems by 18.1% during the 1st quarter. SYM FINANCIAL Corp now owns 10,794 shares of the network equipment provider's stock valued at $666,000 after purchasing an additional 1,654 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Oliver Tuszik sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the completion of the transaction, the executive vice president owned 131,676 shares in the company, valued at $8,365,376.28. This represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the transaction, the chief financial officer owned 309,543 shares of the company's stock, valued at $20,281,257.36. This trade represents a 4.82% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CSCO shares. Morgan Stanley raised their price target on shares of Cisco Systems from $67.00 to $70.00 and gave the company an "overweight" rating in a report on Friday, July 18th. New Street Research restated a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. CICC Research initiated coverage on shares of Cisco Systems in a report on Monday, July 14th. They set an "outperform" rating and a $78.00 price target on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and raised their target price for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Finally, Piper Sandler raised their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.35.

Cisco Systems Trading Down 0.5%

Shares of NASDAQ:CSCO traded down $0.33 during trading on Thursday, hitting $68.29. 13,525,514 shares of the company's stock were exchanged, compared to its average volume of 18,074,402. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $69.78. The firm has a 50-day moving average price of $66.33 and a two-hundred day moving average price of $62.35. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The firm has a market cap of $270.43 billion, a P/E ratio of 27.87, a PEG ratio of 4.11 and a beta of 0.90.

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, beating analysts' consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.88 earnings per share. Equities analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Thursday, July 3rd. Cisco Systems's dividend payout ratio is currently 66.94%.

Cisco Systems Company 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.