Zhang Financial LLC Buys 12,663 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Zhang Financial LLC raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 24.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,110 shares of the network equipment provider's stock after purchasing an additional 12,663 shares during the period. Zhang Financial LLC's holdings in Cisco Systems were worth $3,956,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Glass Jacobson Investment Advisors llc raised its holdings in shares of Cisco Systems by 8.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock valued at $123,000 after buying an additional 166 shares during the last quarter. Fairhaven Wealth Management LLC raised its holdings in Cisco Systems by 2.3% during the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock worth $449,000 after purchasing an additional 167 shares in the last quarter. BlackDiamond Wealth Management LLC grew its position in Cisco Systems by 3.1% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock worth $335,000 after buying an additional 168 shares during the last quarter. Legacy Financial Group Inc. grew its position in Cisco Systems by 3.4% in the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock worth $302,000 after buying an additional 169 shares during the last quarter. Finally, Maple Capital Management Inc. grew its position in Cisco Systems by 1.4% in the fourth quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock worth $709,000 after buying an additional 170 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CSCO shares. Citigroup lifted their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. The Goldman Sachs Group lifted their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Piper Sandler lifted their price objective 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. New Street Research reissued a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Finally, Wall Street Zen raised shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Eight investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $68.00.

Cisco Systems Price Performance

Shares of CSCO traded up $0.91 on Thursday, hitting $65.10. The company's stock had a trading volume of 15,146,864 shares, compared to its average volume of 20,148,308. The company has a 50 day moving average price of $60.04 and a 200 day moving average price of $60.49. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The company has a market capitalization of $257.80 billion, a PE ratio of 28.43, a PEG ratio of 4.16 and a beta of 0.88.

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

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is currently 66.94%.

Cisco Systems declared that its board has initiated a share buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are undervalued.

Insider Activity

In related news, CEO Charles Robbins sold 29,784 shares of the company's stock in a transaction on Thursday, June 5th. The shares were 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 owns 688,409 shares in the company, valued at $44,478,105.49. This represents a 4.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total value of $48,821.34. Following the transaction, the senior vice president now owns 36,937 shares of the company's stock, valued at approximately $2,366,553.59. This trade represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,335 shares of company stock valued at $4,441,441 in the last 90 days. 0.01% of the stock is owned by company insiders.

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.