Simon Quick Advisors LLC Increases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Simon Quick Advisors LLC lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 36.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 29,584 shares of the network equipment provider’s stock after buying an additional 7,841 shares during the period. Simon Quick Advisors LLC’s holdings in Cisco Systems were worth $1,826,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Glass Jacobson Investment Advisors llc raised its position in shares of Cisco Systems by 8.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock worth $123,000 after purchasing an additional 166 shares during the last quarter. Fairhaven Wealth Management LLC raised its position in shares of Cisco Systems by 2.3% during the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock worth $449,000 after purchasing an additional 167 shares during the last quarter. BlackDiamond Wealth Management LLC raised its position in shares of Cisco Systems by 3.1% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock worth $335,000 after purchasing an additional 168 shares during the last quarter. Legacy Financial Group Inc. raised its position in shares of Cisco Systems by 3.4% during the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock worth $302,000 after purchasing an additional 169 shares during the last quarter. Finally, Maple Capital Management Inc. raised its position in shares of Cisco Systems by 1.4% during the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock worth $709,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 1.5%

Shares of Cisco Systems stock opened at $64.19 on Thursday. The company has a fifty day moving average price of $60.04 and a 200 day moving average price of $60.49. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The stock has a market cap of $254.19 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same period in the prior year, the company earned $0.88 EPS. The firm’s revenue was up 11.4% on a year-over-year basis. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

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

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.55%. Cisco Systems’s dividend payout ratio (DPR) is 66.94%.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the transaction, the chief executive officer now directly owns 688,409 shares of the company’s stock, valued at $44,478,105.49. This represents a 4.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 4,185 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.51, for a total transaction of $265,789.35. Following the completion of the transaction, the senior vice president now directly owns 38,103 shares of the company’s stock, valued at approximately $2,419,921.53. The trade was a 9.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 68,573 shares of company stock valued at $4,392,619. Company insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CSCO shares. Barclays restated an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. The Goldman Sachs Group boosted their price target on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Piper Sandler boosted their price target on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. boosted their price target on Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

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.