Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,488 shares of the network equipment provider’s stock after purchasing an additional 494 shares during the period. IVC Wealth Advisors LLC’s holdings in Cisco Systems were worth $923,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC increased its holdings in Cisco Systems by 586.5% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 127,776 shares of the network equipment provider’s stock valued at $6,869,000 after acquiring an additional 109,164 shares in the last quarter. AXQ Capital LP purchased a new position in Cisco Systems during the 3rd quarter valued at about $484,000. Adage Capital Partners GP L.L.C. increased its holdings in Cisco Systems by 1.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock valued at $240,335,000 after acquiring an additional 49,700 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in Cisco Systems by 0.6% during the 3rd quarter. Evergreen Capital Management LLC now owns 314,262 shares of the network equipment provider’s stock valued at $16,895,000 after acquiring an additional 1,936 shares in the last quarter. Finally, Legacy Advisors LLC increased its holdings in Cisco Systems by 57.0% during the 3rd quarter. Legacy Advisors LLC now owns 17,299 shares of the network equipment provider’s stock valued at $930,000 after acquiring an additional 6,283 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CSCO shares. JPMorgan Chase & Co. started coverage on shares of Cisco Systems in a report on Monday, April 22nd. They set a “neutral” rating and a $53.00 target price for the company. Piper Sandler reiterated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a report on Wednesday, June 5th. Oppenheimer lifted their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $56.47.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the sale, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $33,439,234.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 3,378 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total transaction of $155,016.42. Following the sale, the senior vice president now directly owns 52,953 shares of the company’s stock, valued at $2,430,013.17. The disclosure for this sale can be found here. In the last three months, insiders sold 41,106 shares of company stock valued at $1,908,923. 0.02% of the stock is owned by insiders.

Cisco Systems Stock Down 0.4 %

Shares of NASDAQ:CSCO traded down $0.19 during midday trading on Wednesday, reaching $47.09. The company had a trading volume of 8,118,296 shares, compared to its average volume of 19,657,014. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. Cisco Systems, Inc. has a one year low of $44.95 and a one year high of $58.19. The stock’s fifty day moving average price is $47.03 and its 200-day moving average price is $48.75. The stock has a market capitalization of $189.72 billion, a P/E ratio of 15.97, a PEG ratio of 2.75 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.18. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 earnings per share. Equities research analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s payout ratio is 53.87%.

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.