Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 151,265 shares of the network equipment provider’s stock after purchasing an additional 5,930 shares during the quarter. Apollon Wealth Management LLC’s holdings in Cisco Systems were worth $7,187,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC increased its holdings 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 purchasing an additional 600 shares during the period. DiNuzzo Private Wealth Inc. acquired a new position in Cisco Systems in the 4th quarter valued at $33,000. Retirement Group LLC raised its position in Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after buying an additional 263 shares during the last quarter. Tidemark LLC purchased a new position in Cisco Systems during the fourth quarter worth about $41,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Cisco Systems during the first quarter worth $41,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CSCO shares. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $46.00 to $58.00 in a research report on Friday. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday. Barclays decreased their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday. Piper Sandler restated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $55.89.

Cisco Systems Trading Up 1.1 %

Cisco Systems stock traded up $0.52 during trading on Monday, hitting $49.98. The company’s stock had a trading volume of 16,336,708 shares, compared to its average volume of 19,912,549. The stock’s fifty day moving average is $46.74 and its 200 day moving average is $47.86. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $58.19. The stock has a market capitalization of $201.36 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 2.97 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the company posted $1.01 EPS. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.20%. Cisco Systems’s dividend payout ratio is presently 53.87%.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction 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 transaction, the chief executive officer now owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the transaction, the chief executive officer now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the sale, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The disclosure for this sale can be found here. Insiders sold a total of 33,090 shares of company stock worth $1,522,231 in the last ninety days. 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.