Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Stewart & Patten Co. LLC

Stewart & Patten Co. LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 363,910 shares of the network equipment provider’s stock after buying an additional 4,915 shares during the quarter. Cisco Systems makes up about 2.7% of Stewart & Patten Co. LLC’s investment portfolio, making the stock its 19th largest holding. Stewart & Patten Co. LLC’s holdings in Cisco Systems were worth $18,163,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Valued Wealth Advisors LLC acquired a new position in Cisco Systems in the fourth quarter worth $32,000. Delos Wealth Advisors LLC boosted its holdings in Cisco Systems by 1,666.7% in the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after purchasing an additional 600 shares during the period. DiNuzzo Private Wealth Inc. acquired a new position in Cisco Systems in the fourth quarter worth $33,000. Morton Brown Family Wealth LLC boosted its holdings in Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the period. Finally, Bourgeon Capital Management LLC boosted its holdings in Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

Cisco Systems stock traded up $0.01 during midday trading on Monday, hitting $47.52. The company’s stock had a trading volume of 17,769,230 shares, compared to its average volume of 19,724,012. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. The stock’s 50-day moving average price is $47.06 and its 200-day moving average price is $48.78. Cisco Systems, Inc. has a 12 month low of $44.95 and a 12 month high of $58.19. The company has a market capitalization of $191.45 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 2.75 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the previous year, the business earned $0.88 earnings per share. Cisco Systems’s revenue for the quarter was down 12.8% compared to the same quarter last year. Analysts anticipate that Cisco Systems, Inc. will post 3.14 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 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 3.37%. Cisco Systems’s payout ratio is presently 53.87%.

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the sale, the chief executive officer now owns 725,363 shares in the company, valued at approximately $33,439,234.30. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the transaction, the executive vice president now owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the transaction, the chief executive officer now directly owns 725,363 shares in the company, valued at approximately $33,439,234.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,106 shares of company stock worth $1,908,923. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. Piper Sandler reissued a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a report on Wednesday, June 5th. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a report on Monday, May 13th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the company from $55.00 to $60.00 in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $56.47.

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.