Values Added Financial LLC Purchases 584 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)
by Michael Walen · The Markets DailyValues Added Financial LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 11.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,507 shares of the network equipment provider’s stock after acquiring an additional 584 shares during the quarter. Values Added Financial LLC’s holdings in Cisco Systems were worth $340,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of the company. North Capital Inc. bought a new stake in Cisco Systems during the 1st quarter valued at $336,000. MBM Wealth Consultants LLC increased its position in shares of Cisco Systems by 12.7% during the first quarter. MBM Wealth Consultants LLC now owns 5,994 shares of the network equipment provider’s stock worth $370,000 after acquiring an additional 677 shares in the last quarter. Clark Asset Management LLC increased its position in shares of Cisco Systems by 44.5% during the first quarter. Clark Asset Management LLC now owns 5,226 shares of the network equipment provider’s stock worth $322,000 after acquiring an additional 1,609 shares in the last quarter. Resonant Capital Advisors LLC raised its holdings in shares of Cisco Systems by 4.2% in the 1st quarter. Resonant Capital Advisors LLC now owns 65,900 shares of the network equipment provider’s stock worth $4,067,000 after acquiring an additional 2,670 shares during the last quarter. Finally, Lodestone Wealth Management LLC lifted its position in Cisco Systems by 0.9% in the 1st quarter. Lodestone Wealth Management LLC now owns 35,491 shares of the network equipment provider’s stock valued at $2,190,000 after acquiring an additional 310 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.
Cisco Systems Trading Down 0.7%
NASDAQ CSCO opened at $68.59 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The stock’s 50-day simple moving average is $63.41 and its two-hundred day simple moving average is $61.30. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78. The company has a market capitalization of $271.62 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 4.13 and a beta of 0.90.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share 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 analysts’ expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. Cisco Systems’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $0.88 EPS. Research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems Announces Dividend
The firm also recently disclosed 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. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.39%. Cisco Systems’s dividend payout ratio (DPR) is 66.94%.
Insider Activity at Cisco Systems
In related news, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the transaction, the chief financial officer owned 309,543 shares in the company, valued at $20,281,257.36. This trade represents a 4.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeetendra I. Patel sold 9,961 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the sale, the insider owned 257,162 shares of the company’s stock, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 in the last 90 days. Corporate insiders own 0.01% of the company’s stock.
Analyst Upgrades and Downgrades
CSCO has been the subject of several recent research reports. 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. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Piper Sandler increased their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Citigroup increased their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $69.53.
View Our Latest Analysis on Cisco Systems
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.
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