Focus Financial Network Inc. Buys 1,385 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Focus Financial Network Inc. boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,451 shares of the network equipment provider’s stock after purchasing an additional 1,385 shares during the period. Focus Financial Network Inc.’s holdings in Cisco Systems were worth $1,571,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CSCO. FPC Investment Advisory Inc. bought a new stake in Cisco Systems during the 4th quarter worth $26,000. Navigoe LLC acquired a new stake in shares of Cisco Systems during the fourth quarter valued at about $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Cisco Systems during the fourth quarter worth about $26,000. JDM Financial Group LLC boosted its position in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after buying an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the topic of a number of recent research reports. Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Evercore ISI upped their price target on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. UBS Group raised their price objective on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Finally, Piper Sandler increased their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Cisco Systems Trading Down 1.5%

Shares of Cisco Systems stock opened at $64.19 on Thursday. The stock has a market capitalization of $254.19 billion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The stock has a 50 day moving average price of $60.04 and a two-hundred day moving average price of $60.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the prior year, the business posted $0.88 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.55%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is 66.94%.

Cisco Systems announced that its board has authorized a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, EVP Oliver Tuszik sold 15,000 shares of Cisco Systems stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the completion of the transaction, the executive vice president now owns 131,676 shares in the company, valued at $8,365,376.28. This trade represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 688,409 shares of the company’s stock, valued at $44,478,105.49. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,573 shares of company stock valued at $4,392,619. 0.01% of the stock is owned by company insiders.

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.