Naviter Wealth LLC Purchases 4,665 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Naviter Wealth LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,937 shares of the network equipment provider’s stock after purchasing an additional 4,665 shares during the period. Naviter Wealth LLC’s holdings in Cisco Systems were worth $1,943,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CSCO. Caxton Associates LP purchased a new stake in Cisco Systems in the third quarter valued at approximately $295,000. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Cisco Systems by 586.5% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 127,776 shares of the network equipment provider’s stock valued at $6,869,000 after acquiring an additional 109,164 shares during the last quarter. Hodges Capital Management Inc. acquired a new stake in shares of Cisco Systems in the third quarter worth $956,000. Quadrature Capital Ltd raised its holdings in shares of Cisco Systems by 55.9% during the third quarter. Quadrature Capital Ltd now owns 174,810 shares of the network equipment provider’s stock worth $9,396,000 after purchasing an additional 62,671 shares during the last quarter. Finally, Axxcess Wealth Management LLC lifted its position in Cisco Systems by 109.9% during the third quarter. Axxcess Wealth Management LLC now owns 124,703 shares of the network equipment provider’s stock valued at $6,704,000 after purchasing an additional 65,299 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of recent research reports. Morgan Stanley assumed coverage on Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price objective for the company. Wells Fargo & Company boosted their price target on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, May 16th. Piper Sandler restated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. Finally, Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the stock from $55.00 to $60.00 in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $56.47.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the transaction, the executive vice president now directly owns 180,705 shares in the company, valued at approximately $8,717,209.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Maria Victoria Wong sold 3,378 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the sale, the senior vice president now directly owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the completion of the sale, the executive vice president now owns 180,705 shares in the company, valued at $8,717,209.20. The disclosure for this sale can be found here. Insiders sold 41,106 shares of company stock valued at $1,908,923 in the last three months. 0.02% of the stock is currently owned by insiders.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded down $0.24 during trading hours on Tuesday, reaching $47.28. 19,792,607 shares of the company’s stock were exchanged, compared to its average volume of 19,727,699. The business has a fifty day moving average of $47.05 and a two-hundred day moving average of $48.77. 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 company has a market capitalization of $190.48 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 2.75 and a beta of 0.85. Cisco Systems, Inc. has a 1 year low of $44.95 and a 1 year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating 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 company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same quarter in the prior year, the company earned $0.88 EPS. Cisco Systems’s revenue was down 12.8% compared to the same quarter last year. As a group, research analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

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

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.