Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by First Affirmative Financial Network

First Affirmative Financial Network raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,514 shares of the network equipment provider’s stock after buying an additional 2,544 shares during the quarter. Cisco Systems makes up approximately 0.9% of First Affirmative Financial Network’s portfolio, making the stock its 17th biggest position. First Affirmative Financial Network’s holdings in Cisco Systems were worth $1,451,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSCO. Norges Bank purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $3,297,905,000. FMR LLC lifted its stake in Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after buying an additional 13,285,052 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $560,722,000. Alyeska Investment Group L.P. purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $413,491,000. Finally, GAMMA Investing LLC lifted its stake in Cisco Systems by 7,096.5% in the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider’s stock valued at $414,593,000 after buying an additional 6,625,045 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In related news, EVP Oliver Tuszik sold 15,000 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total transaction of $952,950.00. Following the sale, the executive vice president now owns 131,676 shares of the company’s stock, valued at $8,365,376.28. This trade represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the sale, the chief executive officer now directly owns 688,409 shares in the company, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,400 shares of company stock valued at $4,564,439 over the last quarter. Insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the subject of several analyst reports. Citigroup upped their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Evercore ISI upped their price target on Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Rosenblatt Securities upped their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, JPMorgan Chase & Co. upped their price target on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Cisco Systems Stock Up 2.2%

Cisco Systems stock opened at $66.06 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The firm has a market capitalization of $261.60 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The stock’s fifty day moving average is $59.61 and its two-hundred day moving average is $60.34.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Cisco Systems’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 earnings per share. Analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its board has approved a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s payout ratio is currently 66.94%.

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.