Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Nexus Investment Management ULC

Nexus Investment Management ULC boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 683,765 shares of the network equipment provider’s stock after acquiring an additional 29,700 shares during the quarter. Cisco Systems comprises about 3.3% of Nexus Investment Management ULC’s portfolio, making the stock its 9th largest position. Nexus Investment Management ULC’s holdings in Cisco Systems were worth $34,127,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSCO. Valued Wealth Advisors LLC acquired a new stake in Cisco Systems during the 4th quarter worth about $32,000. Delos Wealth Advisors LLC lifted its holdings in shares of Cisco Systems by 1,666.7% in the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after buying an additional 600 shares during the period. DiNuzzo Private Wealth Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $33,000. 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 buying an additional 208 shares during the period. Finally, Bourgeon Capital Management LLC lifted its holdings in shares of Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity

In other news, SVP Maria Victoria Wong sold 3,378 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the sale, the senior vice president now directly owns 52,953 shares in the company, valued at $2,430,013.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the transaction, the executive vice president now directly owns 180,705 shares in the company, valued at $8,717,209.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 3,378 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the transaction, the senior vice president now owns 52,953 shares in the company, valued at $2,430,013.17. 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. Corporate insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CSCO. Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $55.00 to $60.00 in a report on Monday, April 15th. Wells Fargo & Company boosted their price objective on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, May 16th. Piper Sandler reissued a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a report on Wednesday, June 5th. Barclays boosted their price objective on Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, May 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.47.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $47.29 on Friday. Cisco Systems, Inc. has a 12 month low of $44.95 and a 12 month high of $58.19. The stock has a 50 day moving average of $47.14 and a two-hundred day moving average of $48.83. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The firm has a market cap of $190.52 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 2.71 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. The company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. Cisco Systems’s quarterly revenue was down 12.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 EPS. On average, analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal 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 given 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 dividend yield of 3.38%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

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.