Traveka Wealth LLC Purchases 2,024 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Traveka Wealth LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 59.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,420 shares of the network equipment provider’s stock after buying an additional 2,024 shares during the quarter. Traveka Wealth LLC’s holdings in Cisco Systems were worth $334,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Glass Jacobson Investment Advisors llc lifted its position in shares of Cisco Systems by 8.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock worth $123,000 after buying an additional 166 shares in the last quarter. BlackDiamond Wealth Management LLC raised its holdings in shares of Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock worth $335,000 after purchasing an additional 168 shares during the period. Legacy Financial Group Inc. raised its holdings in shares of Cisco Systems by 3.4% in the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock worth $302,000 after purchasing an additional 169 shares during the period. Capital Advantage Inc. raised its holdings in shares of Cisco Systems by 1.0% in the 4th quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider’s stock worth $1,028,000 after purchasing an additional 172 shares during the period. Finally, Lynx Investment Advisory raised its holdings in shares of Cisco Systems by 3.9% in the 4th quarter. Lynx Investment Advisory now owns 4,593 shares of the network equipment provider’s stock worth $272,000 after purchasing an additional 174 shares during the period. Institutional investors own 73.33% of the company’s stock.

Insider Activity

In other news, insider Jeetendra I. Patel sold 9,961 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the transaction, the insider directly owned 257,162 shares in the company, valued at $16,450,653.14. The trade was a 3.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of Cisco Systems stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the sale, the executive vice president directly owned 181,186 shares of the company’s stock, valued at $11,505,311. This represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,335 shares of company stock worth $6,271,054. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 1.5%

CSCO opened at $69.64 on Friday. The company has a fifty day moving average price of $63.93 and a 200-day moving average price of $61.48. The firm has a market capitalization of $275.77 billion, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 4.15 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78.

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

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.35%. Cisco Systems’s dividend payout ratio (DPR) is currently 66.94%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. New Street Research reaffirmed a “neutral” rating and issued a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Morgan Stanley reaffirmed a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Citigroup lifted their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $69.53.

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.