Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.5% in the first quarter, HoldingsChannel reports. The firm owned 1,994,687 shares of the network equipment provider’s stock after acquiring an additional 122,183 shares during the period. Asset Management One Co. Ltd.’s holdings in Cisco Systems were worth $123,092,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Mainstream Capital Management LLC purchased a new stake in shares of Cisco Systems in the fourth quarter valued at $132,000. Proficio Capital Partners LLC raised its stake in Cisco Systems by 76.4% in the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock valued at $1,003,000 after purchasing an additional 7,338 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Cisco Systems by 28.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider’s stock valued at $249,180,000 after purchasing an additional 904,548 shares in the last quarter. Investment Management Corp of Ontario boosted its stake in shares of Cisco Systems by 44.6% during the 4th quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock worth $11,454,000 after purchasing an additional 59,680 shares during the last quarter. Finally, AlTi Global Inc. grew its holdings in shares of Cisco Systems by 49.8% during the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider’s stock worth $1,217,000 after buying an additional 6,811 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CSCO. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Rosenblatt Securities raised their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Wells Fargo & Company raised Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Evercore ISI increased their target price on Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Finally, New Street Research restated a “neutral” rating and issued a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. 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, the company presently has an average rating of “Moderate Buy” and an average target price of $69.11.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $67.38 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $67.86. The company has a market capitalization of $266.82 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 3.97 and a beta of 0.88. The business has a 50-day moving average of $61.58 and a 200-day moving average of $60.85.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 17.60% and a return on equity of 26.48%. Cisco Systems’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $0.88 earnings per share. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

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 2.43%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is 66.94%.

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the sale, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the transaction, the executive vice president now directly owns 174,669 shares of the company’s stock, valued at $11,447,806.26. This represents a 4.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 in the last quarter. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Company 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.