KB Financial Partners LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,551 shares of the network equipment provider’s stock, valued at approximately $656,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CSCO. United Bank acquired a new stake in shares of Cisco Systems during the first quarter worth $645,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cisco Systems by 32.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider’s stock worth $236,593,000 after acquiring an additional 1,040,607 shares during the period. Roundview Capital LLC raised its position in shares of Cisco Systems by 13.1% in the 1st quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider’s stock worth $588,000 after acquiring an additional 1,221 shares in the last quarter. Merit Financial Group LLC lifted its stake in shares of Cisco Systems by 21.5% in the 1st quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider’s stock valued at $656,000 after purchasing an additional 2,079 shares during the period. Finally, Mackenzie Financial Corp boosted its position in shares of Cisco Systems by 8.1% during the 1st quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider’s stock valued at $135,470,000 after purchasing an additional 182,857 shares in the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
CSCO has been the subject of a number of research analyst reports. Citigroup lifted their target price on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, August 17th. UBS Group lifted their price objective on shares of Cisco Systems from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, August 17th. Piper Sandler increased their target price on shares of Cisco Systems from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, August 17th. Rosenblatt Securities upped their price objective on shares of Cisco Systems from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday, August 17th. Finally, Oppenheimer restated an “outperform” rating and issued a $58.00 target price on shares of Cisco Systems in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $59.23.
Cisco Systems Stock Down 0.8 %
CSCO opened at $56.39 on Wednesday. The business’s fifty day simple moving average is $53.90 and its 200 day simple moving average is $51.01. Cisco Systems, Inc. has a 52 week low of $38.60 and a 52 week high of $58.19. The company has a quick ratio of 1.27, a current ratio of 1.38 and a debt-to-equity ratio of 0.15. The stock has a market cap of $229.79 billion, a PE ratio of 18.37, a P/E/G ratio of 2.52 and a beta of 0.97.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last announced its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.06 by $0.08. The firm had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.05 billion. Cisco Systems had a return on equity of 33.42% and a net margin of 22.13%. The company’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.74 EPS. As a group, research analysts expect that Cisco Systems, Inc. will post 3.58 earnings per share for the current fiscal year.
Cisco Systems Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be paid a $0.39 dividend. The ex-dividend date is Tuesday, October 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.77%. Cisco Systems’s dividend payout ratio (DPR) is 50.81%.
Insider Activity at Cisco Systems
In other Cisco Systems news, COO Maria Martinez sold 10,000 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $55.18, for a total transaction of $551,800.00. Following the completion of the sale, the chief operating officer now directly owns 399,240 shares in the company, valued at $22,030,063.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Richard Scott Herren sold 2,579 shares of the company’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $50.65, for a total transaction of $130,626.35. Following the completion of the sale, the chief financial officer now directly owns 281,493 shares in the company, valued at approximately $14,257,620.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Maria Martinez sold 10,000 shares of the stock in a transaction on Friday, August 18th. The shares were sold at an average price of $55.18, for a total transaction of $551,800.00. Following the sale, the chief operating officer now directly owns 399,240 shares of the company’s stock, valued at approximately $22,030,063.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,210 shares of company stock valued at $2,767,284. Insiders own 0.02% 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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; 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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