3,793 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Bought by Accelerate Investment Advisors LLC

Accelerate Investment Advisors LLC purchased a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 3,793 shares of the network equipment provider’s stock, valued at approximately $234,000.

A number of other large investors have also added to or reduced their stakes in CSCO. Mainstream Capital Management LLC purchased a new stake in Cisco Systems in the fourth quarter worth $132,000. Proficio Capital Partners LLC raised its holdings in Cisco Systems by 76.4% in the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock worth $1,003,000 after purchasing an additional 7,338 shares in the last quarter. Investment Management Corp of Ontario lifted its position in shares of Cisco Systems by 44.6% in the 4th quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock worth $11,454,000 after purchasing an additional 59,680 shares during the period. AlTi Global Inc. boosted its stake in shares of Cisco Systems by 49.8% during the 4th quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider’s stock valued at $1,217,000 after purchasing an additional 6,811 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Cisco Systems during the fourth quarter valued at about $282,000. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Rosenblatt Securities raised their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Piper Sandler upped their price target on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $65.00 to $73.00 in a report on Monday. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average target price of $69.11.

Insider Activity at Cisco Systems

In other news, insider Jeetendra I. Patel sold 899 shares of Cisco Systems stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the transaction, the insider now directly owns 255,377 shares of the company’s stock, valued at $16,413,079.79. The trade was a 0.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 688,409 shares of the company’s stock, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,931 shares of company stock worth $4,671,930. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Down 0.3%

Cisco Systems stock opened at $65.33 on Wednesday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The stock has a fifty day simple moving average of $60.86 and a two-hundred day simple moving average of $60.66. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The firm has a market cap of $258.71 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 3.95 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. Cisco Systems’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.88 EPS. Equities analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

About Cisco Systems

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.