Monterey Private Wealth Inc. raised its holdings in Cisco Systems, Inc. (NASDAQ: CSCO – Get Rating) by 24.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,571 shares of the network equipment provider’s stock after buying an additional 2,243 shares during the quarter. Monterey Private Wealth Inc.’s holdings in Cisco Systems were worth $ 649,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of CSCO. MFA Wealth Advisors LLC bought a new stake in shares of Cisco Systems in the 3rd quarter worth approximately $ 119,000. Voloridge Investment Management LLC purchased a new position in shares of Cisco Systems in the 3rd quarter valued at approximately $ 1,290,000. Cable Hill Partners LLC lifted its stake in shares of Cisco Systems by 4.6% in the 3rd quarter. Cable Hill Partners LLC now owns 17,084 shares of the network equipment provider’s stock valued at $ 930,000 after purchasing an additional 757 shares during the period. FinTrust Capital Advisors LLC lifted its stake in shares of Cisco Systems by 3.7% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 71,306 shares of the network equipment provider’s stock valued at $ 3,881,000 after purchasing an additional 2,538 shares during the period. Finally, Chartwell Investment Partners LLC lifted its stake in shares of Cisco Systems by 2.3% in the 3rd quarter. Chartwell Investment Partners LLC now owns 320,027 shares of the network equipment provider’s stock valued at $ 17,419,000 after purchasing an additional 7,094 shares during the period. Hedge funds and other institutional investors own 73.18% of the company stock.
In other Cisco Systems news, CEO Charles Robbins sold 12,717 shares of the business’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $ 43.79, for a total transaction of $ 556,877.43. Following the completion of the sale, the chief executive officer now owns 651,577 shares of the company stock, valued at $ 28,532,556.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prat Bhatt sold 607 shares of the business’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $ 43.10, for a total value of $ 26,161.70. Following the sale, the senior vice president now directly owns 79,855 shares of the company stock, valued at approximately $ 3,441,750.50. The disclosure for this sale can be found here. Insiders sold 25,326 shares of company stock valued at $ 1,103,159 in the last ninety days. 0.02% of the stock is currently owned by corporate insiders.
A number of research analysts have recently commented on CSCO shares. Oppenheimer lowered their target price on Cisco Systems from $ 60.00 to $ 50.00 and set an “outperform” rating for the company in a research note on Thursday, May 19th. Evercore ISI lowered their target price on Cisco Systems from $ 62.00 to $ 50.00 and set an “outperform” rating for the company in a research note on Thursday, May 19th. JPMorgan Chase & Co. lowered their target price on Cisco Systems from $ 67.00 to $ 62.00 and set an “overweight” rating for the company in a research note on Thursday, May 19th. Piper Sandler lowered their price objective on Cisco Systems from $ 57.00 to $ 43.00 and set a “neutral” rating for the company in a research note on Thursday, May 19th. Finally, Wells Fargo & Company lowered their price objective on Cisco Systems from $ 65.00 to $ 52.00 and set an “equal weight” rating for the company in a research note on Thursday, May 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $ 55.05.
Shares of CSCO opened at $ 43.39 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.49 and a quick ratio of 1.40. Cisco Systems, Inc. has a one year low of $ 41.02 and a one year high of $ 64.29. The firm has a market capitalization of $ 179.68 billion, a P / E ratio of 15.22, a PEG ratio of 2.23 and a beta of 0.99. The business has a fifty day moving average of $ 47.76 and a 200 day moving average of $ 54.00.
Cisco Systems (NASDAQ: CSCO – Get Rating) last issued its quarterly earnings data on Wednesday, May 18th. The network equipment provider reported $ 0.87 EPS for the quarter, topping the consensus estimate of $ 0.86 by $ 0.01. Cisco Systems had a return on equity of 31.22% and a net margin of 23.28%. During the same period last year, the company earned $ 0.75 earnings per share. Analysts expect that Cisco Systems, Inc. will post 2.99 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be issued a $ 0.38 dividend. This represents a $ 1.52 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Tuesday, July 5th. Cisco Systems’s payout ratio is currently 53.33%.
Cisco Systems Company Profile: (Get Rating)
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and / or store data.
Further Reading:
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.
.