Insigneo Advisory Services LLC Has $1.36 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Insigneo Advisory Services LLC grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 22,085 shares of the network equipment provider’s stock after acquiring an additional 1,032 shares during the period. Insigneo Advisory Services LLC’s holdings in Cisco Systems were worth $1,363,000 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 the business. Norges Bank bought a new stake in Cisco Systems in the fourth quarter valued at $3,297,905,000. FMR LLC boosted its stake in shares of Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after purchasing an additional 13,285,052 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Cisco Systems in the 4th quarter worth about $560,722,000. Alyeska Investment Group L.P. acquired a new stake in shares of Cisco Systems during the 4th quarter worth about $413,491,000. Finally, GAMMA Investing LLC lifted its holdings in Cisco Systems by 7,096.5% during the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider’s stock valued at $414,593,000 after purchasing an additional 6,625,045 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Piper Sandler raised their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. JPMorgan Chase & Co. increased their price target on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Evercore ISI lifted their price objective on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus target price of $69.11.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total transaction of $48,821.34. Following the transaction, the senior vice president now owns 36,937 shares of the company’s stock, valued at $2,366,553.59. This trade represents a 2.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total transaction of $154,072.07. Following the completion of the sale, the executive vice president now directly owns 177,027 shares of the company’s stock, valued at $11,331,498.27. The trade was a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,931 shares of company stock valued at $4,671,930 over the last three months. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Down 0.3%

Shares of NASDAQ CSCO opened at $65.33 on Wednesday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The firm’s 50-day moving average is $60.86 and its 200-day moving average is $60.66. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $258.71 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 3.95 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data 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. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same period in the prior year, the business posted $0.88 earnings per share. Cisco Systems’s revenue was up 11.4% compared to the same quarter last year. Equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.51%. Cisco Systems’s dividend payout ratio is currently 66.94%.

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.