Cisco Systems, Inc. (NASDAQ:CSCO) Position Boosted by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.2% during the 1st quarter, HoldingsChannel reports. The fund owned 38,156 shares of the network equipment provider’s stock after purchasing an additional 1,193 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Cisco Systems were worth $1,904,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Saxon Interests Inc. grew its stake in shares of Cisco Systems by 8.1% in the 1st quarter. Saxon Interests Inc. now owns 24,001 shares of the network equipment provider’s stock valued at $1,198,000 after buying an additional 1,800 shares in the last quarter. Naviter Wealth LLC grew its stake in shares of Cisco Systems by 13.6% in the 1st quarter. Naviter Wealth LLC now owns 38,937 shares of the network equipment provider’s stock valued at $1,943,000 after buying an additional 4,665 shares in the last quarter. West Oak Capital LLC grew its stake in shares of Cisco Systems by 1.3% in the 1st quarter. West Oak Capital LLC now owns 35,912 shares of the network equipment provider’s stock valued at $1,792,000 after buying an additional 445 shares in the last quarter. Verum Partners LLC grew its stake in shares of Cisco Systems by 7.4% in the 1st quarter. Verum Partners LLC now owns 4,780 shares of the network equipment provider’s stock valued at $239,000 after buying an additional 329 shares in the last quarter. Finally, Financial Security Advisor Inc. grew its stake in shares of Cisco Systems by 0.3% in the 1st quarter. Financial Security Advisor Inc. now owns 84,545 shares of the network equipment provider’s stock valued at $4,220,000 after buying an additional 238 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $47.09 on Thursday. The business has a fifty day simple moving average of $47.03 and a 200 day simple moving average of $48.75. 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 capitalization of $189.72 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 2.75 and a beta of 0.85. Cisco Systems, Inc. has a one year low of $44.95 and a one year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The business 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 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. Sell-side analysts expect that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, July 5th. This represents a $1.60 annualized dividend and a yield of 3.40%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CSCO shares. BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research note on Monday, May 13th. Oppenheimer upped their target price on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research report on Wednesday, June 5th. Barclays upped 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, Wells Fargo & Company upped their target price on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and a consensus price target of $56.47.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction 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 owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The disclosure for this sale can be found here. Insiders sold 41,106 shares of company stock worth $1,908,923 over the last three months. 0.02% of the stock is currently owned by corporate insiders.

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.