Claro Advisors LLC Buys 1,373 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Claro Advisors LLC grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,197 shares of the network equipment provider’s stock after purchasing an additional 1,373 shares during the quarter. Claro Advisors LLC’s holdings in Cisco Systems were worth $1,757,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CSCO. Mcintyre Freedman & Flynn Investment Advisers Inc. boosted its stake in shares of Cisco Systems by 0.3% during the fourth quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock valued at $3,019,000 after purchasing an additional 202 shares during the period. Hyman Charles D grew its stake in Cisco Systems by 0.3% in the 4th quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock worth $3,573,000 after acquiring an additional 203 shares in the last quarter. Madrona Financial Services LLC increased its position in shares of Cisco Systems by 2.4% during the fourth quarter. Madrona Financial Services LLC now owns 8,970 shares of the network equipment provider’s stock worth $453,000 after acquiring an additional 207 shares during the period. Morton Brown Family Wealth LLC raised its stake in shares of Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 208 shares in the last quarter. Finally, Baker Boyer National Bank raised its stake in shares of Cisco Systems by 2.6% during the first quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock valued at $411,000 after acquiring an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the subject of several research reports. Morgan Stanley began coverage on Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price for the company. Piper Sandler reiterated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a report on Wednesday, June 5th. Wells Fargo & Company boosted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, May 16th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Monday, June 10th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems has a consensus rating of “Hold” and a consensus target price of $56.47.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded up $0.01 during midday trading on Monday, reaching $47.52. 17,769,230 shares of the stock were exchanged, compared to its average volume of 19,724,012. 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 market cap of $191.45 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 2.75 and a beta of 0.85. The firm has a 50-day simple moving average of $47.06 and a two-hundred day simple moving average of $48.78. Cisco Systems, Inc. has a twelve month low of $44.95 and a twelve month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates 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 firm posted $0.88 EPS. As a group, analysts anticipate that Cisco Systems, Inc. will post 3.14 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 24th. Shareholders of record on Friday, July 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s payout ratio is currently 53.87%.

Insiders Place Their Bets

In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the sale, the executive vice president now owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the transaction, the senior vice president now owns 52,953 shares of the company’s stock, valued at $2,430,013.17. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the completion of the sale, the executive vice president now directly owns 180,705 shares in the company, valued at $8,717,209.20. The disclosure for this sale can be found here. Insiders sold 41,106 shares of company stock valued at $1,908,923 in the last three months. 0.02% of the stock is currently owned by insiders.

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.