Bogart Wealth LLC Purchases 183 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Bogart Wealth LLC lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 201,169 shares of the network equipment provider’s stock after buying an additional 183 shares during the period. Bogart Wealth LLC’s holdings in Cisco Systems were worth $12,414,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after purchasing an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings 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 worth $542,000 after purchasing an additional 2,474 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in Cisco Systems by 76.4% in the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock worth $1,003,000 after purchasing an additional 7,338 shares in the last quarter. Choate Investment Advisors increased its holdings in shares of Cisco Systems by 5.0% during the fourth quarter. Choate Investment Advisors now owns 123,590 shares of the network equipment provider’s stock valued at $7,317,000 after acquiring an additional 5,901 shares in the last quarter. Finally, one8zero8 LLC acquired a new position in shares of Cisco Systems during the fourth quarter valued at about $1,898,000. 73.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the firm’s 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 completion of the sale, the senior vice president directly owned 36,937 shares of the company’s stock, valued at $2,366,553.59. This trade represents a 2.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 15,678 shares of the firm’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the sale, the chief financial officer directly owned 309,543 shares of the company’s stock, valued at $20,281,257.36. This trade represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several recent analyst reports. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Piper Sandler upped their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Evercore ISI increased their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. JPMorgan Chase & Co. increased their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Finally, Rosenblatt Securities increased their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.53.

Cisco Systems Trading Down 1.2%

Shares of CSCO stock opened at $67.95 on Monday. The stock’s fifty day moving average is $65.02 and its two-hundred day moving average is $61.83. 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 firm has a market capitalization of $269.08 billion, a P/E ratio of 27.73, a PEG ratio of 4.07 and a beta of 0.90. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.78.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. Research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 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.