Verum Partners LLC Has $239,000 Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Verum Partners LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,780 shares of the network equipment provider’s stock after buying an additional 329 shares during the quarter. Verum Partners LLC’s holdings in Cisco Systems were worth $239,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Cisco Systems by 1,096.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock worth $146,845,000 after purchasing an additional 2,663,676 shares during the last quarter. Roble Belko & Company Inc boosted its holdings in Cisco Systems by 77.1% during the fourth quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock worth $324,000 after purchasing an additional 2,788 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Cisco Systems during the fourth quarter worth about $28,685,000. Adage Capital Partners GP L.L.C. boosted its holdings in Cisco Systems by 1.1% during the third quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock worth $240,335,000 after purchasing an additional 49,700 shares during the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC boosted its holdings in Cisco Systems by 0.6% during the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock worth $9,734,000 after purchasing an additional 1,097 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Price Performance

Cisco Systems stock traded down $0.24 during midday trading on Tuesday, reaching $47.28. 19,792,607 shares of the stock were exchanged, compared to its average volume of 19,727,699. The company’s fifty day moving average is $47.05 and its 200-day moving average is $48.77. 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 firm has a market cap of $190.48 billion, a PE ratio of 15.91, a PEG ratio of 2.75 and a beta of 0.85. Cisco Systems, Inc. has a 52 week low of $44.95 and a 52 week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. Cisco Systems’s revenue was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 EPS. On average, sell-side analysts forecast 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. Stockholders of record on Friday, July 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

Insider Activity

In other news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 725,363 shares in the company, valued at approximately $33,439,234.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Charles Robbins sold 26,331 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Thursday, June 13th. The shares were 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 in the company, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,106 shares of company stock worth $1,908,923. 0.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CSCO. Piper Sandler restated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a report on Wednesday, June 5th. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research report on Monday, May 13th. Morgan Stanley initiated coverage on shares of Cisco Systems in a research report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price objective on the stock. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and a consensus 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.