E&G Advisors LP Buys 630 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

E&G Advisors LP raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.8% in the first quarter, Holdings Channel reports. The fund owned 17,328 shares of the network equipment provider’s stock after acquiring an additional 630 shares during the period. E&G Advisors LP’s holdings in Cisco Systems were worth $865,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSCO. BluePath Capital Management LLC raised its holdings in shares of Cisco Systems by 30.5% in the first quarter. BluePath Capital Management LLC now owns 11,828 shares of the network equipment provider’s stock valued at $590,000 after buying an additional 2,763 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Cisco Systems in the first quarter valued at about $41,000. State of Alaska Department of Revenue raised its holdings in shares of Cisco Systems by 10.0% in the first quarter. State of Alaska Department of Revenue now owns 886,743 shares of the network equipment provider’s stock valued at $44,256,000 after buying an additional 80,730 shares during the last quarter. Albion Financial Group UT raised its holdings in shares of Cisco Systems by 0.8% in the first quarter. Albion Financial Group UT now owns 156,706 shares of the network equipment provider’s stock valued at $7,821,000 after buying an additional 1,206 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its holdings in shares of Cisco Systems by 5.0% in the first quarter. Valeo Financial Advisors LLC now owns 96,117 shares of the network equipment provider’s stock valued at $4,797,000 after buying an additional 4,595 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Down 0.4 %

Shares of Cisco Systems stock traded down $0.19 on Wednesday, hitting $47.09. The company had a trading volume of 8,118,296 shares, compared to its average volume of 19,657,014. Cisco Systems, Inc. has a twelve month low of $44.95 and a twelve month high of $58.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The stock has a 50-day moving average of $47.03 and a 200-day moving average of $48.75. The firm has a market capitalization of $189.72 billion, a P/E ratio of 15.97, a P/E/G ratio of 2.75 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations 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 was down 12.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 EPS. Research analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 annualized dividend and a yield of 3.40%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Activity at Cisco Systems

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

Analyst Ratings Changes

CSCO has been the subject of a number of research reports. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. Piper Sandler reiterated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research report on Wednesday, June 5th. Citigroup initiated coverage on Cisco Systems in a research report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price objective for the company. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Barclays lifted their price objective on Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $56.47.

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.