Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,471 shares of the network equipment provider’s stock after purchasing an additional 4,742 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Cisco Systems were worth $4,904,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Tallon Kerry Patrick purchased a new position in Cisco Systems in the 4th quarter worth $603,000. Brighton Jones LLC grew its position in Cisco Systems by 49.5% during the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after purchasing an additional 24,562 shares during the period. Revolve Wealth Partners LLC grew its position in Cisco Systems by 37.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after purchasing an additional 2,474 shares during the period. Wingate Wealth Advisors Inc. acquired a new stake in Cisco Systems during the 4th quarter worth about $113,000. Finally, Bristlecone Advisors LLC grew its position in Cisco Systems by 31.3% during the 4th quarter. Bristlecone Advisors LLC now owns 8,226 shares of the network equipment provider’s stock worth $487,000 after purchasing an additional 1,962 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Deborah L. Stahlkopf sold 9,643 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the sale, the executive vice president now directly owns 181,186 shares in the company, valued at approximately $11,505,311. This represents a 5.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Oliver Tuszik sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total value of $952,950.00. Following the sale, the executive vice president now owns 131,676 shares in the company, valued at $8,365,376.28. The trade was a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,573 shares of company stock valued at $4,392,619 in the last quarter. Company insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Piper Sandler increased their price target on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. raised their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, May 15th. Evercore ISI raised their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. The Goldman Sachs Group lifted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Wall Street Zen upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Cisco Systems Stock Down 1.1%

Shares of CSCO opened at $65.15 on Wednesday. The firm has a market cap of $257.99 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The company’s fifty day moving average is $59.85 and its two-hundred day moving average is $60.46. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 EPS. Analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.52%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is 66.94%.

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.