Red Door Wealth Management LLC Acquires 6,991 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Red Door Wealth Management LLC increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 119,644 shares of the network equipment provider’s stock after acquiring an additional 6,991 shares during the quarter. Cisco Systems makes up about 1.2% of Red Door Wealth Management LLC’s holdings, making the stock its 28th largest position. Red Door Wealth Management LLC’s holdings in Cisco Systems were worth $5,971,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CSCO. Valued Wealth Advisors LLC bought a new stake in shares of Cisco Systems in the fourth quarter valued at $32,000. Delos Wealth Advisors LLC raised its stake in shares of 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 buying an additional 600 shares during the period. DiNuzzo Private Wealth Inc. bought a new stake in shares of Cisco Systems in the fourth quarter valued at $33,000. Morton Brown Family Wealth LLC grew its position in shares of 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 valued at $36,000 after purchasing an additional 208 shares in the last quarter. Finally, Bourgeon Capital Management LLC grew its position in shares of 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 valued at $36,000 after purchasing an additional 700 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Trading Up 0.1 %

CSCO traded up $0.06 during midday trading on Friday, reaching $47.51. 23,921,057 shares of the company’s stock traded hands, compared to its average volume of 20,878,226. The firm has a fifty day moving average of $47.06 and a two-hundred day moving average of $48.79. The stock has a market capitalization of $191.41 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 2.75 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. Cisco Systems, Inc. has a 52 week low of $44.95 and a 52 week high of $58.19.

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

Cisco Systems Announces Dividend

The company 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 dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.37%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several recent research reports. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $60.00 in a research report on Monday, April 15th. Piper Sandler reiterated a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft lifted their price target on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research report on Monday, May 13th. 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 stock. According to MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and a consensus target price of $56.47.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $8,717,209.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $8,717,209.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 26,331 shares of the company’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 value of $1,213,859.10. Following the completion of the sale, the chief executive officer now 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.

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.