Longfellow Investment Management Co. LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 16.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,515 shares of the network equipment provider’s stock after purchasing an additional 3,114 shares during the period. Longfellow Investment Management Co. LLC’s holdings in Cisco Systems were worth $1,328,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of CSCO. Navigoe LLC purchased a new stake in Cisco Systems in the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC purchased a new stake in Cisco Systems in the 4th quarter worth approximately $26,000. JDM Financial Group LLC grew its stake in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after acquiring an additional 300 shares during the period. Pandora Wealth Inc. purchased a new stake in Cisco Systems in the 1st quarter worth approximately $31,000. Finally, Fairway Wealth LLC grew its stake in Cisco Systems by 224.7% in the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 400 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have commented on CSCO. Evercore ISI reaffirmed an “in-line” rating and issued a $72.00 target price on shares of Cisco Systems in a research note on Monday, July 28th. Wolfe Research started coverage on shares of Cisco Systems in a research note on Tuesday, July 8th. They issued a “peer perform” rating for the company. Wall Street Zen lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 12th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Piper Sandler lifted their price target 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. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and an average target price of $70.55.
Insider Transactions at Cisco Systems
In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer owned 688,409 shares in the company, valued at $44,478,105.49. The trade was a 4.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the business’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the transaction, the executive vice president owned 181,186 shares in the company, valued at $11,505,311. This represents a 5.05% decrease in their position. 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 three months. Insiders own 0.01% of the company’s stock.
Cisco Systems Stock Performance
NASDAQ:CSCO opened at $71.79 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $284.29 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 3.98 and a beta of 0.91. The firm’s fifty day simple moving average is $67.49 and its 200 day simple moving average is $63.05. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $72.02.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last posted its earnings results 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 business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 EPS. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.
Cisco Systems Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were issued a $0.41 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.3%. 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.
Read More
- Five stocks we like better than Cisco Systems
- Investing in Construction Stocks
- Worried About a Fading Rally? Consider These 3 Dividend Stocks
- Do ETFs Pay Dividends? What You Need to Know
- 3 Dividend Stocks Raising Payouts—and Backing It Up With Results
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- 3 Stocks With Monopoly Power—and Minimal Competition
Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO – Free Report).
Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.