BIP Wealth LLC Increases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

BIP Wealth LLC raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,520 shares of the network equipment provider’s stock after purchasing an additional 256 shares during the period. BIP Wealth LLC’s holdings in Cisco Systems were worth $587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock valued at $4,392,000 after purchasing an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in 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 valued at $542,000 after purchasing an additional 2,474 shares during the last quarter. Proficio Capital Partners LLC increased its stake in Cisco Systems by 76.4% during the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock worth $1,003,000 after acquiring an additional 7,338 shares during the last quarter. IMG Wealth Management Inc. acquired a new stake in Cisco Systems during the fourth quarter worth about $47,000. Finally, Flagship Wealth Advisors LLC purchased a new stake in shares of Cisco Systems in the fourth quarter worth about $108,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CSCO shares. JPMorgan Chase & Co. upped their target price on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Evercore ISI increased their target price on Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. Piper Sandler increased their price target on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Finally, Rosenblatt Securities lifted their price target on Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.95.

Insiders Place Their Bets

In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of the company’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the transaction, the chief financial officer owned 309,543 shares of the company’s stock, valued at approximately $20,281,257.36. This represents a 4.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer directly owned 688,409 shares in the company, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock worth $6,271,054 over the last ninety days. 0.01% of the stock is owned by insiders.

Cisco Systems Trading Down 0.9%

CSCO stock opened at $67.18 on Wednesday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $69.78. The firm has a market cap of $266.03 billion, a P/E ratio of 27.42, a P/E/G ratio of 4.06 and a beta of 0.90. The business’s 50 day moving average is $65.34 and its 200-day moving average is $61.93. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 EPS. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s payout ratio is currently 66.94%.

Cisco Systems 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.