Davis Capital Management Has $1.57 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Davis Capital Management lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,983 shares of the network equipment provider’s stock after purchasing an additional 738 shares during the quarter. Cisco Systems accounts for 1.4% of Davis Capital Management’s investment portfolio, making the stock its 21st largest holding. Davis Capital Management’s holdings in Cisco Systems were worth $1,567,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CSCO. Householder Group Estate & Retirement Specialist LLC raised its position in Cisco Systems by 12.6% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,525 shares of the network equipment provider’s stock valued at $228,000 after buying an additional 507 shares during the last quarter. Camelot Portfolios LLC purchased a new stake in Cisco Systems in the 4th quarter valued at $271,000. Advisory Alpha LLC increased its position in shares of Cisco Systems by 22.7% during the 4th quarter. Advisory Alpha LLC now owns 9,304 shares of the network equipment provider’s stock valued at $470,000 after purchasing an additional 1,722 shares during the last quarter. Walkner Condon Financial Advisors LLC increased its position in shares of Cisco Systems by 9.4% during the 4th quarter. Walkner Condon Financial Advisors LLC now owns 6,373 shares of the network equipment provider’s stock valued at $322,000 after purchasing an additional 547 shares during the last quarter. Finally, Comprehensive Financial Consultants Institutional Inc. increased its position in shares of Cisco Systems by 5.5% during the 4th quarter. Comprehensive Financial Consultants Institutional Inc. now owns 63,799 shares of the network equipment provider’s stock valued at $3,223,000 after purchasing an additional 3,338 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the transaction, the senior vice president now owns 51,788 shares in the company, valued at $2,352,210.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction on 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 directly owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the transaction, the executive vice president now directly owns 176,384 shares in the company, valued at $7,997,250.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,106 shares of company stock valued at $1,908,923. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Down 1.5 %

Shares of NASDAQ CSCO traded down $0.73 during mid-day trading on Friday, hitting $46.66. 24,000,150 shares of the stock traded hands, compared to its average volume of 18,794,710. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. Cisco Systems, Inc. has a 52 week low of $44.95 and a 52 week high of $58.19. The company has a market cap of $187.98 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 2.97 and a beta of 0.85. The stock has a fifty day moving average price of $46.81 and a 200-day moving average price of $48.26.

Cisco Systems (NASDAQ:CSCO) last released its quarterly 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. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the previous year, the company posted $0.88 earnings per share. The firm’s revenue was down 12.8% on a year-over-year basis. Research analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Analyst Upgrades and Downgrades

Several research analysts have commented on CSCO shares. JPMorgan Chase & Co. started coverage on Cisco Systems in a research note on Monday, April 22nd. They issued a “neutral” rating and a $53.00 target price for the company. Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the company from $55.00 to $60.00 in a report on Monday, April 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft raised their price target on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. Finally, Barclays raised their price target on Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, May 17th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $56.47.

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.