67,004 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Bought by Global Assets Advisory LLC

Global Assets Advisory LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 67,004 shares of the network equipment provider’s stock, valued at approximately $3,344,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Valued Wealth Advisors LLC bought a new position in shares of Cisco Systems in the 4th quarter valued at about $32,000. Delos Wealth Advisors LLC lifted its stake in shares of Cisco Systems by 1,666.7% during the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after buying an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter worth about $33,000. Morton Brown Family Wealth LLC lifted its stake in shares of Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after buying an additional 208 shares during the last quarter. Finally, Bourgeon Capital Management LLC lifted its stake in shares of Cisco Systems by 3,500.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after buying an additional 700 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.0 %

NASDAQ:CSCO opened at $47.28 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. Cisco Systems, Inc. has a 52 week low of $44.95 and a 52 week high of $58.19. The firm’s fifty day moving average is $47.12 and its 200-day moving average is $48.84. The firm has a market cap of $190.48 billion, a P/E ratio of 15.92, a P/E/G ratio of 2.74 and a beta of 0.86.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the previous year, the company earned $0.88 EPS. Cisco Systems’s quarterly revenue was down 12.8% compared to the same quarter last year. Equities analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, July 5th. This represents a $1.60 annualized dividend and a yield of 3.38%. Cisco Systems’s payout ratio is 53.87%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. Wells Fargo & Company lifted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 16th. Piper Sandler reiterated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research note on Wednesday, June 5th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $55.00 to $60.00 in a research note on Monday, April 15th. Finally, StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Cisco Systems has an average rating of “Hold” and a consensus target price of $56.47.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares in the company, valued at approximately $2,352,210.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the transaction, the chief executive officer now owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the transaction, the senior vice president now owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. Insiders sold a total of 41,106 shares of company stock worth $1,908,923 in the last quarter. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Company 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.