Wealthfront Advisers LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 28.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 370,325 shares of the network equipment provider's stock after acquiring an additional 82,885 shares during the period. Wealthfront Advisers LLC's holdings in Cisco Systems were worth $22,853,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Navigoe LLC purchased a new stake in Cisco Systems in the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC purchased a new stake in Cisco Systems in the fourth quarter worth about $26,000. JDM Financial Group LLC grew its holdings in Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after purchasing an additional 300 shares during the period. Runnymede Capital Advisors Inc. purchased a new stake in Cisco Systems in the fourth quarter worth about $30,000. Finally, Fairway Wealth LLC grew its holdings in shares of Cisco Systems by 224.7% during the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock valued at $36,000 after buying an additional 400 shares during the last quarter. 73.33% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
CSCO has been the topic of a number of recent analyst reports. Wolfe Research initiated coverage on shares of Cisco Systems in a report on Tuesday, July 8th. They set a "peer perform" rating on the stock. Evercore ISI increased their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. New Street Research reiterated a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. JPMorgan Chase & Co. increased their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Finally, KeyCorp initiated coverage on shares of Cisco Systems in a report on Thursday, June 26th. They set an "overweight" rating and a $77.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have 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 target price of $69.95.
Check Out Our Latest Stock Analysis on CSCO
Cisco Systems Price Performance
Shares of CSCO stock traded down $0.64 during mid-day trading on Tuesday, hitting $67.18. The company had a trading volume of 13,927,629 shares, compared to its average volume of 20,337,381. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78. The stock's 50 day moving average price is $65.19 and its 200-day moving average price is $61.89. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The company has a market capitalization of $266.03 billion, a P/E ratio of 27.42, a P/E/G ratio of 4.06 and a beta of 0.90.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results 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 company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems's revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 earnings per share. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.
Cisco Systems Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders 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 2.44%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.
Insider Activity at Cisco Systems
In other news, insider Jeetendra I. Patel sold 9,961 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the sale, the insider directly owned 257,162 shares in the company, valued at approximately $16,450,653.14. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer owned 309,543 shares in the company, valued at $20,281,257.36. This represents a 4.82% 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 over the last quarter. Corporate insiders own 0.01% of the company's stock.
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.
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