13,819 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Acquired by Duncan Williams Asset Management LLC

Duncan Williams Asset Management LLC bought a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the first quarter, HoldingsChannel reports. The fund bought 13,819 shares of the network equipment provider’s stock, valued at approximately $690,000.

Several other hedge funds also recently bought and sold shares of CSCO. Strategic Advocates LLC acquired a new position in shares of Cisco Systems in the first quarter valued at approximately $433,000. Heartwood Wealth Advisors LLC lifted its stake in shares of Cisco Systems by 8.3% during the 1st quarter. Heartwood Wealth Advisors LLC now owns 19,835 shares of the network equipment provider’s stock worth $990,000 after purchasing an additional 1,519 shares during the period. Park National Corp OH lifted its stake in shares of Cisco Systems by 5.4% during the 1st quarter. Park National Corp OH now owns 985,628 shares of the network equipment provider’s stock worth $49,193,000 after purchasing an additional 50,324 shares during the period. Canandaigua National Bank & Trust Co. grew its position in shares of Cisco Systems by 9.4% in the first quarter. Canandaigua National Bank & Trust Co. now owns 108,269 shares of the network equipment provider’s stock valued at $5,404,000 after purchasing an additional 9,288 shares during the period. Finally, Confluence Investment Management LLC purchased a new stake in shares of Cisco Systems in the first quarter valued at $95,489,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

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 sale, the senior vice president now owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems 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 transaction, the executive vice president now owns 180,705 shares in the company, valued at $8,717,209.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 762 shares of the firm’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 sale, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at $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 ninety days. Company insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Morgan Stanley began coverage on Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price target on the stock. Oppenheimer boosted their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research note on Wednesday, June 5th. Citigroup started coverage on shares of Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective for the company. Finally, JPMorgan Chase & Co. started coverage on Cisco Systems in a research report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 target price on the stock. One investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $56.47.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $45.97 on Wednesday. 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 $47.28 and a 200 day simple moving average of $48.87. Cisco Systems, Inc. has a fifty-two week low of $44.95 and a fifty-two week high of $58.19. The company has a market cap of $185.20 billion, a PE ratio of 15.48, a P/E/G ratio of 2.65 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last announced 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. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the previous year, the business earned $0.88 EPS. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend 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.