Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by SPC Financial Inc.

SPC Financial Inc. increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,873 shares of the network equipment provider’s stock after acquiring an additional 2,029 shares during the period. SPC Financial Inc.’s holdings in Cisco Systems were worth $2,938,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CSCO. Tompkins Financial Corp grew its holdings in Cisco Systems by 9.5% in the third quarter. Tompkins Financial Corp now owns 199,757 shares of the network equipment provider’s stock valued at $10,739,000 after purchasing an additional 17,333 shares during the last quarter. Comerica Bank grew its holdings in Cisco Systems by 118.1% in the third quarter. Comerica Bank now owns 1,851,518 shares of the network equipment provider’s stock valued at $99,538,000 after purchasing an additional 1,002,401 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC acquired a new stake in Cisco Systems in the third quarter valued at $10,299,000. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new stake in Cisco Systems in the third quarter valued at $4,298,000. Finally, Verity Asset Management Inc. acquired a new stake in Cisco Systems in the third quarter valued at $215,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the sale, the executive vice president now owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the sale, the executive vice president now owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 26,331 shares of Cisco Systems 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 in the company, valued at $33,439,234.30. The disclosure for this sale can be found here. Insiders have sold 41,106 shares of company stock valued at $1,908,923 in the last quarter. Corporate insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the topic of several recent research reports. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Monday, June 10th. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $55.00 to $60.00 in a research report on Monday, April 15th. Piper Sandler restated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research report on Wednesday, June 5th. JPMorgan Chase & Co. assumed coverage on Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 target price on the stock. Finally, BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a research report on Monday, May 13th. One equities 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $56.47.

Cisco Systems Stock Performance

NASDAQ:CSCO traded up $0.49 during trading hours on Thursday, reaching $46.76. 19,741,432 shares of the stock were exchanged, compared to its average volume of 19,592,980. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. The firm has a 50 day simple moving average of $46.89 and a 200-day simple moving average of $48.61. Cisco Systems, Inc. has a 52 week low of $44.95 and a 52 week high of $58.19. The stock has a market capitalization of $188.39 billion, a P/E ratio of 15.71, a P/E/G ratio of 2.67 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.18. The business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business’s revenue was down 12.8% on a year-over-year basis. During the same quarter last year, the business posted $0.88 EPS. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.42%. The ex-dividend date is Friday, July 5th. Cisco Systems’s payout ratio is currently 53.87%.

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.