Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Kavar Capital Partners Group LLC

Kavar Capital Partners Group LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 6,984 shares of the network equipment provider’s stock after acquiring an additional 209 shares during the period. Kavar Capital Partners Group LLC’s holdings in Cisco Systems were worth $431,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after acquiring an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after purchasing an additional 2,474 shares during the last quarter. Pine Valley Investments Ltd Liability Co lifted its holdings in shares of Cisco Systems by 20.2% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 39,675 shares of the network equipment provider’s stock worth $2,349,000 after purchasing an additional 6,671 shares during the period. Lake Street Advisors Group LLC boosted its position in Cisco Systems by 3.1% in the fourth quarter. Lake Street Advisors Group LLC now owns 49,797 shares of the network equipment provider’s stock valued at $2,948,000 after buying an additional 1,493 shares during the last quarter. Finally, Richard Bernstein Advisors LLC acquired a new position in Cisco Systems in the 4th quarter worth approximately $3,483,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total value of $48,821.34. Following the sale, the senior vice president now owns 36,937 shares in the company, valued at $2,366,553.59. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the transaction, the executive vice president now owns 174,669 shares in the company, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock worth $6,271,054 over the last quarter. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Price Performance

Cisco Systems stock opened at $68.19 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The company’s fifty day moving average price is $62.04 and its 200 day moving average price is $60.95. The stock has a market capitalization of $270.03 billion, a P/E ratio of 27.83, a P/E/G ratio of 4.06 and a beta of 0.88. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $68.64.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter in the previous year, the company earned $0.88 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.41%. Cisco Systems’s payout ratio is currently 66.94%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays restated an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. KeyCorp raised shares of Cisco Systems to a “strong-buy” rating in a report on Wednesday. Rosenblatt Securities lifted their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Piper Sandler upped their target price on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. Finally, Wells Fargo & Company raised Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and an average price target of $69.11.

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.