Aviance Capital Partners LLC Increases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Aviance Capital Partners LLC boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 83,291 shares of the network equipment provider’s stock after purchasing an additional 6,454 shares during the quarter. Aviance Capital Partners LLC’s holdings in Cisco Systems were worth $4,157,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CSCO. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Cisco Systems by 1,096.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock valued at $146,845,000 after acquiring an additional 2,663,676 shares during the last quarter. Roble Belko & Company Inc boosted its holdings in shares of Cisco Systems by 77.1% during the 4th quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock valued at $324,000 after acquiring an additional 2,788 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Cisco Systems during the 4th quarter valued at about $28,685,000. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Cisco Systems by 1.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock valued at $240,335,000 after acquiring an additional 49,700 shares during the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC boosted its holdings in shares of Cisco Systems by 0.6% during the 4th quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock valued at $9,734,000 after acquiring an additional 1,097 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded up $0.18 on Monday, hitting $47.69. 4,253,180 shares of the company traded hands, compared to its average volume of 19,640,043. The stock has a market capitalization of $192.13 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 2.75 and a beta of 0.85. 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, Inc. has a 52 week low of $44.95 and a 52 week high of $58.19. The business has a 50-day simple moving average of $47.06 and a 200 day simple moving average of $48.78.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data 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 company’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 earnings per share. Research analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

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 3.36%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s payout ratio is currently 53.87%.

Analyst Ratings Changes

A number of analysts have recently issued reports on CSCO shares. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a report on Wednesday, June 5th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $55.00 to $60.00 in a research note on Monday, April 15th. BNP Paribas upgraded 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 note on Monday, May 13th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Monday, June 10th. Finally, Barclays increased their price objective on shares of Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, May 17th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and a consensus price target of $56.47.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of Cisco Systems 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 completion of the transaction, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,106 shares of company stock valued at $1,908,923. 0.02% of the stock is owned by corporate insiders.

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.