Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by FCG Investment Co

FCG Investment Co grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 126.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 9,884 shares of the network equipment provider’s stock after acquiring an additional 5,518 shares during the period. FCG Investment Co’s holdings in Cisco Systems were worth $493,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. New Century Financial Group LLC increased its stake in Cisco Systems by 9.5% during the first quarter. New Century Financial Group LLC now owns 12,792 shares of the network equipment provider’s stock worth $638,000 after purchasing an additional 1,115 shares during the period. Oak Harvest Investment Services increased its stake in Cisco Systems by 1.7% during the 1st quarter. Oak Harvest Investment Services now owns 136,434 shares of the network equipment provider’s stock worth $6,809,000 after buying an additional 2,299 shares during the period. Tempus Wealth Planning LLC lifted its holdings in Cisco Systems by 3.2% during the 1st quarter. Tempus Wealth Planning LLC now owns 18,220 shares of the network equipment provider’s stock worth $909,000 after buying an additional 570 shares in the last quarter. RBA Wealth Management LLC boosted its position in Cisco Systems by 1.7% in the 1st quarter. RBA Wealth Management LLC now owns 74,838 shares of the network equipment provider’s stock valued at $3,735,000 after buying an additional 1,273 shares during the period. Finally, Legacy Wealth Asset Management LLC grew its stake in shares of Cisco Systems by 1.4% in the first quarter. Legacy Wealth Asset Management LLC now owns 37,177 shares of the network equipment provider’s stock worth $1,856,000 after acquiring an additional 522 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO traded down $0.19 during mid-day trading on Thursday, reaching $47.09. 8,118,296 shares of the company’s stock were exchanged, compared to its average volume of 19,658,074. The business’s fifty day simple moving average is $47.00 and its 200-day simple moving average is $48.74. The stock has a market capitalization of $189.72 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 2.74 and a beta of 0.85. Cisco Systems, Inc. has a 52-week low of $44.95 and a 52-week high of $58.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the previous year, the business posted $0.88 earnings per share. Cisco Systems’s quarterly revenue was down 12.8% on a year-over-year basis. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.40%. Cisco Systems’s payout ratio is 53.87%.

Analyst Ratings Changes

CSCO has been the topic of several analyst reports. Oppenheimer increased their price objective on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. Piper Sandler restated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research note on Wednesday, June 5th. Barclays raised their target price on shares of Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, May 17th. Finally, Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $60.00 in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $56.47.

Insider Buying and Selling at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the transaction, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the sale, the senior vice president now directly owns 51,788 shares in the company, valued at $2,352,210.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the transaction, the executive vice president now owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,106 shares of company stock worth $1,908,923. 0.02% of the stock is currently owned by 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.