Sunburst Financial Group LLC Buys 643 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Sunburst Financial Group LLC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,603 shares of the network equipment provider’s stock after purchasing an additional 643 shares during the period. Sunburst Financial Group LLC’s holdings in Cisco Systems were worth $681,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Valued Wealth Advisors LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth $32,000. Delos Wealth Advisors LLC boosted its stake 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 valued at $32,000 after acquiring an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in shares of Cisco Systems during the 4th quarter valued at approximately $33,000. Morton Brown Family Wealth LLC increased 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 purchasing an additional 208 shares during the last quarter. Finally, Bourgeon Capital Management LLC raised its holdings in shares of Cisco Systems by 3,500.0% in the 4th 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 own 73.33% of the company’s stock.

Insider Buying and Selling

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the sale, the executive vice president now owns 176,384 shares in the company, valued at $7,997,250.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the transaction, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the sale, the executive vice president now owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The disclosure for this sale can be found here. Insiders have sold a total of 41,106 shares of company stock worth $1,908,923 in the last ninety days. 0.02% of the stock is owned by insiders.

Cisco Systems Price Performance

NASDAQ:CSCO traded up $0.33 during mid-day trading on Friday, reaching $47.78. The stock had a trading volume of 2,665,798 shares, compared to its average volume of 19,592,719. Cisco Systems, Inc. has a one year low of $44.95 and a one year high of $58.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The firm has a 50 day moving average price of $47.09 and a two-hundred day moving average price of $48.82. The stock has a market capitalization of $192.50 billion, a P/E ratio of 16.11, a P/E/G ratio of 2.71 and a beta of 0.85.

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 analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm’s revenue was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. As a group, analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.35%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio is presently 53.87%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of recent research reports. Piper Sandler reissued a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research report on Wednesday, June 5th. Oppenheimer boosted their price objective on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 target price for the company. Morgan Stanley initiated coverage on shares of Cisco Systems in a research report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price target on the stock. Finally, StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Cisco Systems has an average rating of “Hold” and an average price target of $56.47.

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.