Naviter Wealth LLC Increases Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Naviter Wealth LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,937 shares of the network equipment provider’s stock after acquiring an additional 4,665 shares during the quarter. Naviter Wealth LLC’s holdings in Cisco Systems were worth $1,943,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valued Wealth Advisors LLC acquired a new position in Cisco Systems during the fourth quarter worth approximately $32,000. Delos Wealth Advisors LLC increased its holdings in shares of Cisco Systems by 1,666.7% during the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after buying an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in shares of Cisco Systems in the 4th quarter worth $33,000. Morton Brown Family Wealth LLC boosted its holdings in Cisco Systems by 41.9% in 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 during the last quarter. Finally, Bourgeon Capital Management LLC grew its position in Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 700 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report 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 target on the stock. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Monday, June 10th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. Finally, Barclays increased 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 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 company. According to data from MarketBeat, Cisco Systems presently has an average rating of “Hold” and an average price target of $56.47.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred 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 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 SEC, which is available at this link. In related news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the sale, the chief executive officer now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 762 shares of the firm’s 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 completion of the transaction, the senior vice president now directly owns 51,788 shares in the company, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. Insiders sold a total of 41,106 shares of company stock valued at $1,908,923 over the last three months. 0.02% of the stock is owned by insiders.

Cisco Systems Stock Down 0.5 %

Shares of CSCO traded down $0.24 during trading on Tuesday, reaching $47.28. The company’s stock had a trading volume of 19,792,607 shares, compared to its average volume of 19,727,699. The company has a market cap of $190.48 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 2.75 and a beta of 0.85. 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 company has a fifty day moving average of $47.05 and a two-hundred day moving average of $48.77. Cisco Systems, Inc. has a twelve month low of $44.95 and a twelve month high of $58.19.

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

Cisco Systems Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.38%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

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.