Atwood & Palmer Inc. Increases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Atwood & Palmer Inc. increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 518,704 shares of the network equipment provider’s stock after buying an additional 9,281 shares during the quarter. Cisco Systems comprises 2.0% of Atwood & Palmer Inc.’s holdings, making the stock its 20th largest position. Atwood & Palmer Inc.’s holdings in Cisco Systems were worth $25,889,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in CSCO. Mcintyre Freedman & Flynn Investment Advisers Inc. boosted its position in shares of Cisco Systems by 0.3% during the 4th quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock worth $3,019,000 after acquiring an additional 202 shares in the last quarter. Hyman Charles D boosted its position in shares of Cisco Systems by 0.3% during the 4th quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock worth $3,573,000 after acquiring an additional 203 shares in the last quarter. Madrona Financial Services LLC boosted its position in shares of Cisco Systems by 2.4% during the 4th quarter. Madrona Financial Services LLC now owns 8,970 shares of the network equipment provider’s stock worth $453,000 after acquiring an additional 207 shares in the last quarter. Morton Brown Family Wealth LLC lifted its holdings in shares of Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 208 shares during the last quarter. Finally, River Street Advisors LLC lifted its holdings in shares of Cisco Systems by 1.7% in the 4th quarter. River Street Advisors LLC now owns 12,921 shares of the network equipment provider’s stock valued at $653,000 after purchasing an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CSCO. Piper Sandler reissued a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a report on Wednesday, June 5th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Oppenheimer upped their price objective on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Barclays boosted their target price on Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, May 17th. Finally, JPMorgan Chase & Co. initiated coverage on Cisco Systems in a research report on Monday, April 22nd. They set 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 issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Cisco Systems currently has an average rating of “Hold” and a consensus target price of $56.47.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Thursday, June 13th. The shares were 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 in the company, valued at approximately $2,352,210.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the transaction, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the business’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 transaction, the senior vice president now owns 51,788 shares in the company, valued at $2,352,210.96. The disclosure for this sale can be found here. Insiders have sold a total of 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.

Cisco Systems Stock Up 1.2 %

Shares of CSCO opened at $47.29 on Friday. The firm has a market capitalization of $190.52 billion, a P/E ratio of 15.92, a P/E/G ratio of 2.71 and a beta of 0.85. The company has a 50-day simple moving average of $47.14 and a 200-day simple moving average of $48.83. Cisco Systems, Inc. has a 52 week low of $44.95 and a 52 week 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.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping 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 company’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Announces Dividend

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