Chemistry Wealth Management LLC Makes New Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Chemistry Wealth Management LLC acquired a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,175 shares of the network equipment provider’s stock, valued at approximately $308,000.

A number of other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in Cisco Systems by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after purchasing an additional 6,345,954 shares during the last quarter. Norges Bank acquired a new stake in Cisco Systems in the fourth quarter valued at $2,528,939,000. Wellington Management Group LLP boosted its stake in Cisco Systems by 7.6% during the 4th quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock valued at $2,384,334,000 after acquiring an additional 3,314,330 shares during the last quarter. First Trust Advisors LP grew its holdings in Cisco Systems by 12.3% during the 4th quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock worth $1,260,033,000 after acquiring an additional 2,723,260 shares in the last quarter. Finally, FIL Ltd grew its holdings in Cisco Systems by 47.1% during the 4th quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after acquiring an additional 6,054,748 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

CSCO traded down $0.52 during trading hours on Wednesday, hitting $46.86. The company’s stock had a trading volume of 13,977,929 shares, compared to its average volume of 19,751,314. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a fifty-two week low of $44.95 and a fifty-two week high of $58.19. The company has a 50-day simple moving average of $47.11 and a 200 day simple moving average of $48.83. The firm has a market capitalization of $188.79 billion, a PE ratio of 15.79, a PEG ratio of 2.74 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same period in the previous year, the firm earned $0.88 EPS. Cisco Systems’s revenue was down 12.8% on a year-over-year basis. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date is Friday, July 5th. Cisco Systems’s payout ratio is currently 53.87%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. Morgan Stanley initiated coverage on Cisco Systems in a research report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price for the company. Piper Sandler reissued a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research report on Wednesday, June 5th. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a report on Monday, May 13th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $56.47.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the transaction, the chief executive officer now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the sale, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,106 shares of company stock worth $1,908,923. 0.02% of the stock is owned by corporate insiders.

About Cisco Systems

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.