GAMMA Investing LLC Increases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

GAMMA Investing LLC raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,138 shares of the network equipment provider’s stock after purchasing an additional 7,636 shares during the period. GAMMA Investing LLC’s holdings in Cisco Systems were worth $3,285,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Davis Capital Management raised its position in shares of Cisco Systems by 2.3% in the second quarter. Davis Capital Management now owns 32,983 shares of the network equipment provider’s stock valued at $1,567,000 after buying an additional 738 shares during the last quarter. Cullen Investment Group LTD. raised its position in shares of Cisco Systems by 3.8% in the second quarter. Cullen Investment Group LTD. now owns 101,147 shares of the network equipment provider’s stock valued at $4,805,000 after buying an additional 3,740 shares during the last quarter. Bright Futures Wealth Management LLC. acquired a new position in shares of Cisco Systems in the first quarter valued at approximately $1,784,000. Quent Capital LLC raised its position in shares of Cisco Systems by 1.8% in the first quarter. Quent Capital LLC now owns 19,125 shares of the network equipment provider’s stock valued at $955,000 after buying an additional 329 shares during the last quarter. Finally, Old Port Advisors increased its position in Cisco Systems by 1.1% during the first quarter. Old Port Advisors now owns 56,217 shares of the network equipment provider’s stock worth $2,806,000 after purchasing an additional 615 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target for the company. Oppenheimer upped their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Citigroup assumed coverage on shares of Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 price target for the company. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research report on Monday, May 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and an average price target of $56.47.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total transaction of $155,016.42. Following the transaction, the senior vice president now directly owns 52,953 shares in the company, valued at approximately $2,430,013.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the sale, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the sale, the senior vice president now directly owns 52,953 shares in the company, valued at $2,430,013.17. The disclosure for this sale can be found here. Insiders have sold 41,106 shares of company stock worth $1,908,923 in the last ninety days. 0.02% of the stock is owned by insiders.

Cisco Systems Stock Down 1.5 %

Shares of CSCO stock traded down $0.73 on Friday, hitting $46.66. The stock had a trading volume of 24,000,150 shares, compared to its average volume of 18,794,710. 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 quick ratio of 0.82 and a current ratio of 0.89. The firm has a market capitalization of $187.98 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 2.97 and a beta of 0.85. The stock’s 50 day moving average is $46.81 and its 200-day moving average is $48.26.

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 firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same period in the prior year, the firm posted $0.88 EPS. The firm’s revenue was down 12.8% compared to the same quarter last year. As a group, research analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.43%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

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.