Verum Partners LLC Purchases 329 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Verum Partners LLC raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.4% during the first quarter, HoldingsChannel reports. The fund owned 4,780 shares of the network equipment provider’s stock after acquiring an additional 329 shares during the quarter. Verum Partners LLC’s holdings in Cisco Systems were worth $239,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Cisco Systems in the fourth quarter worth about $2,528,939,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Cisco Systems by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after purchasing an additional 6,345,954 shares during the last quarter. FIL Ltd grew its holdings in shares of Cisco Systems by 47.1% in the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after purchasing an additional 6,054,748 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Cisco Systems by 29.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,727,214 shares of the network equipment provider’s stock worth $895,576,000 after purchasing an additional 3,989,543 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Cisco Systems by 25.0% in the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after purchasing an additional 3,753,165 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded down $0.24 during midday trading on Tuesday, hitting $47.28. The company had a trading volume of 19,792,607 shares, compared to its average volume of 19,727,699. The stock has a market cap of $190.48 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 2.75 and a beta of 0.85. 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 fifty day simple moving average of $47.05 and a 200 day simple moving average of $48.77. Cisco Systems, Inc. has a 12-month low of $44.95 and a 12-month 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 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. Cisco Systems’s revenue was down 12.8% on a year-over-year basis. During the same period last year, the firm posted $0.88 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s payout ratio is currently 53.87%.

Analyst Ratings Changes

Several brokerages have issued reports on CSCO. Piper Sandler reiterated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a report on Wednesday, June 5th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $60.00 in a report on Monday, April 15th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a report on Monday, May 13th. One 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 company’s stock. According to data from MarketBeat, Cisco Systems currently has an average rating of “Hold” and a consensus price target of $56.47.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction that occurred on 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 directly owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. 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 owned by 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.