KFA Private Wealth Group LLC Buys New Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

KFA Private Wealth Group LLC bought a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the 1st quarter, Holdings Channel reports. The institutional investor bought 4,450 shares of the network equipment provider’s stock, valued at approximately $222,000.

Several other large investors have also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Cisco Systems during 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% during 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% during 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% during 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% during 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. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO traded down $0.04 during mid-day trading on Friday, reaching $46.65. The stock had a trading volume of 14,692,599 shares, compared to its average volume of 17,853,866. 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 market capitalization of $187.94 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 2.73 and a beta of 0.85. Cisco Systems, Inc. has a twelve month low of $44.95 and a twelve month high of $58.19. The business has a 50 day simple moving average of $46.96 and a 200 day simple moving average of $48.70.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results 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. 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 period last year, the company posted $0.88 earnings per share. The firm’s quarterly revenue was down 12.8% compared to the same quarter last year. On average, analysts expect 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. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.43%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value 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 filing with the SEC, which is available at this link. In other news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the transaction, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the firm’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 transaction of $118,745.46. Following the transaction, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,106 shares of company stock valued at $1,908,923. Corporate insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the topic of several research reports. Citigroup initiated coverage on Cisco Systems in a report on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective on the stock. Piper Sandler reiterated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research note on Wednesday, June 5th. Oppenheimer increased their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. Barclays increased their target price on shares of Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, May 17th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Monday, June 10th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $56.47.

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.