Cisco Systems, Inc. (NASDAQ:CSCO) Position Increased by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,177 shares of the network equipment provider’s stock after acquiring an additional 522 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Cisco Systems were worth $1,856,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Valued Wealth Advisors LLC acquired a new position in Cisco Systems during the fourth quarter worth $32,000. Delos Wealth Advisors LLC grew its position in Cisco Systems by 1,666.7% during the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after buying an additional 600 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in Cisco Systems during the fourth quarter worth about $33,000. Morton Brown Family Wealth LLC grew its position in Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after buying an additional 208 shares in the last quarter. Finally, Bourgeon Capital Management LLC grew its position in Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after buying an additional 700 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Trading Down 0.4 %

CSCO stock traded down $0.19 during trading on Thursday, hitting $47.09. The company had a trading volume of 8,118,296 shares, compared to its average volume of 19,658,074. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $47.00 and a 200-day moving average price of $48.74. Cisco Systems, Inc. has a 12 month low of $44.95 and a 12 month high of $58.19. The stock has a market cap of $189.72 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 2.74 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $12.53 billion. During the same quarter in the previous year, the business earned $0.88 EPS. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. As a group, analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the transaction, the executive vice president now owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the sale, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The disclosure for this sale can be found here. Insiders sold 41,106 shares of company stock valued at $1,908,923 in the last quarter. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CSCO. Deutsche Bank Aktiengesellschaft lifted their target price on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Morgan Stanley started coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price target for the company. Piper Sandler restated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research note on Wednesday, June 5th. Barclays raised their price target on shares of Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, May 17th. Finally, Citigroup started coverage on shares of Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 price target for the company. One equities research 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $56.47.

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.