Wealth Alliance Advisory Group LLC Purchases 14,873 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Wealth Alliance Advisory Group LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 75.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,543 shares of the network equipment provider's stock after acquiring an additional 14,873 shares during the period. Wealth Alliance Advisory Group LLC's holdings in Cisco Systems were worth $2,132,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mainstream Capital Management LLC bought a new position in Cisco Systems during the fourth quarter valued at about $132,000. Proficio Capital Partners LLC lifted its holdings 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 acquiring an additional 7,338 shares during the period. Investment Management Corp of Ontario increased its holdings in shares of Cisco Systems by 44.6% during the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock worth $11,454,000 after buying an additional 59,680 shares in the last quarter. Aveo Capital Partners LLC raised its holdings in shares of Cisco Systems by 8.3% in the fourth quarter. Aveo Capital Partners LLC now owns 5,296 shares of the network equipment provider's stock valued at $314,000 after buying an additional 407 shares during the last quarter. Finally, AlTi Global Inc. raised its stake in shares of Cisco Systems by 49.8% in the fourth 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 last quarter. Institutional investors own 73.33% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Piper Sandler increased their target price on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. The Goldman Sachs Group raised their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. raised their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Finally, Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $68.00.

Cisco Systems Stock Up 0.4%

Shares of Cisco Systems stock traded up $0.23 during trading hours on Thursday, reaching $64.62. 17,001,251 shares of the company were exchanged, compared to its average volume of 20,148,370. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The firm has a market cap of $255.90 billion, a PE ratio of 28.22, a PEG ratio of 4.16 and a beta of 0.88. The stock's fifty day moving average is $59.47 and its 200 day moving average is $60.22. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 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 the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm's revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 earnings per share. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.54%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. The trade was a 1.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the transaction, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. The trade was a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,616 shares of company stock valued at $2,640,095 over the last ninety days. Corporate insiders own 0.01% of the company's stock.

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.