Cisco Systems, Inc. (NASDAQ:CSCO) Stock Position Raised by DMC Group LLC

DMC Group LLC increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,988 shares of the network equipment provider’s stock after acquiring an additional 769 shares during the quarter. DMC Group LLC’s holdings in Cisco Systems were worth $898,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Schonfeld Strategic Advisors LLC boosted its position in shares of Cisco Systems by 586.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 127,776 shares of the network equipment provider’s stock worth $6,869,000 after buying an additional 109,164 shares during the period. AXQ Capital LP purchased a new position in Cisco Systems during the 3rd quarter valued at about $484,000. Legacy Advisors LLC increased its holdings in shares of Cisco Systems by 57.0% in the 3rd quarter. Legacy Advisors LLC now owns 17,299 shares of the network equipment provider’s stock valued at $930,000 after purchasing an additional 6,283 shares during the period. Lakeshore Financial Planning Inc. acquired a new stake in shares of Cisco Systems during the third quarter worth approximately $206,000. Finally, KPP Advisory Services LLC purchased a new position in Cisco Systems during the third quarter valued at approximately $990,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $47.09 on Thursday. The firm has a market capitalization 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, Inc. has a one year low of $44.95 and a one year high of $58.19. The business has a fifty day simple moving average of $47.03 and a 200 day simple moving average of $48.75. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (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 during the quarter, compared to analysts’ expectations of $12.53 billion. During the same quarter in the prior year, the company posted $0.88 EPS. The business’s revenue was down 12.8% on a year-over-year basis. Sell-side analysts expect that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a 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%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CSCO shares. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. Piper Sandler restated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research note on Wednesday, June 5th. Wells Fargo & Company raised their price target on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 16th. Finally, BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research note on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $56.47.

About Cisco Systems

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.