Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by E&G Advisors LP

E&G Advisors LP increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,328 shares of the network equipment provider’s stock after purchasing an additional 630 shares during the period. E&G Advisors LP’s holdings in Cisco Systems were worth $865,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Schonfeld Strategic Advisors LLC grew its stake in Cisco Systems by 586.5% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 127,776 shares of the network equipment provider’s stock valued at $6,869,000 after acquiring an additional 109,164 shares in the last quarter. AXQ Capital LP purchased a new stake in Cisco Systems during the 3rd quarter valued at about $484,000. Adage Capital Partners GP L.L.C. grew its stake in shares of Cisco Systems by 1.1% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock valued at $240,335,000 after buying an additional 49,700 shares during the period. Evergreen Capital Management LLC grew its stake in shares of Cisco Systems by 0.6% in the 3rd quarter. Evergreen Capital Management LLC now owns 314,262 shares of the network equipment provider’s stock valued at $16,895,000 after buying an additional 1,936 shares during the period. Finally, Legacy Advisors LLC grew its stake in shares of Cisco Systems by 57.0% in the 3rd quarter. Legacy Advisors LLC now owns 17,299 shares of the network equipment provider’s stock valued at $930,000 after buying an additional 6,283 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Cisco Systems stock traded down $0.19 during midday trading on Wednesday, hitting $47.09. 8,118,296 shares of the company’s stock were exchanged, compared to its average volume of 19,657,014. Cisco Systems, Inc. has a 12-month low of $44.95 and a 12-month high of $58.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The stock has a market cap of $189.72 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 2.75 and a beta of 0.85. The firm’s 50 day simple moving average is $47.03 and its 200 day simple moving average is $48.75.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, beating 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 net margin of 21.88% and a return on equity of 30.82%. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 earnings per share. Equities research analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Analysts Set New Price Targets

CSCO has been the subject of several analyst reports. Oppenheimer increased their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Citigroup started coverage on shares of Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective for the company. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a research report on Monday, May 13th. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research report on Wednesday, June 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $56.47.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares in the company, valued at $2,352,210.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction dated 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 transaction, the executive vice president now owns 180,705 shares in the company, valued at $8,717,209.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the transaction, the senior vice president now owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. Insiders sold 41,106 shares of company stock worth $1,908,923 over the last 90 days. Company insiders own 0.02% of the company’s stock.

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.