Proathlete Wealth Management LLC Purchases 581 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Proathlete Wealth Management LLC grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.4% in the first quarter, Holdings Channel.com reports. The fund owned 5,260 shares of the network equipment provider’s stock after buying an additional 581 shares during the period. Proathlete Wealth Management LLC’s holdings in Cisco Systems were worth $325,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Osborne Partners Capital Management LLC lifted its position in shares of Cisco Systems by 1.2% in the 1st quarter. Osborne Partners Capital Management LLC now owns 23,973 shares of the network equipment provider’s stock worth $1,479,000 after acquiring an additional 292 shares during the period. Good Steward Wealth Advisors LLC bought a new stake in shares of Cisco Systems in the 1st quarter worth approximately $290,000. Alta Capital Management LLC lifted its position in shares of Cisco Systems by 5.3% in the 1st quarter. Alta Capital Management LLC now owns 76,307 shares of the network equipment provider’s stock worth $4,709,000 after acquiring an additional 3,859 shares during the period. ORG Partners LLC lifted its position in shares of Cisco Systems by 18.9% in the 1st quarter. ORG Partners LLC now owns 1,693 shares of the network equipment provider’s stock worth $105,000 after acquiring an additional 269 shares during the period. Finally, Walter & Keenan Wealth Management LLC IN ADV lifted its position in shares of Cisco Systems by 0.5% in the 1st quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 98,022 shares of the network equipment provider’s stock worth $6,049,000 after acquiring an additional 448 shares during the period. Institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. New Street Research restated a “neutral” rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Rosenblatt Securities raised their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the stock from $65.00 to $73.00 in a research report on Monday. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and an average price target of $69.11.

Cisco Systems Trading Up 0.8%

Shares of CSCO opened at $65.84 on Friday. The stock has a fifty day moving average price of $61.20 and a two-hundred day moving average price of $60.74. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a market cap of $260.73 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 3.94 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO) last released its 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. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 earnings per share. Analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders 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 dividend yield of 2.49%. Cisco Systems’s payout ratio is currently 66.94%.

Insider Transactions at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 2,407 shares of the business’s stock in a transaction on Wednesday, June 11th. The stock was 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 owns 177,027 shares in the company, valued at $11,331,498.27. The trade was a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 29,784 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the sale, the chief executive officer now owns 688,409 shares of the company’s stock, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,931 shares of company stock worth $4,671,930 over the last 90 days. 0.01% of the stock is owned by insiders.

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.