Copperwynd Financial LLC Buys 1,921 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Copperwynd Financial LLC grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.6% in the second quarter, HoldingsChannel.com reports. The fund owned 17,164 shares of the network equipment provider’s stock after acquiring an additional 1,921 shares during the period. Copperwynd Financial LLC’s holdings in Cisco Systems were worth $832,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Gilbert & Cook Inc. raised its stake in Cisco Systems by 1.1% during the 4th quarter. Gilbert & Cook Inc. now owns 23,417 shares of the network equipment provider’s stock worth $1,183,000 after buying an additional 264 shares during the period. Gryphon Financial Partners LLC lifted its holdings in shares of Cisco Systems by 104.2% during the 4th quarter. Gryphon Financial Partners LLC now owns 23,064 shares of the network equipment provider’s stock valued at $1,177,000 after purchasing an additional 11,767 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Cisco Systems by 0.9% in the 4th quarter. California State Teachers Retirement System now owns 6,609,620 shares of the network equipment provider’s stock valued at $333,918,000 after purchasing an additional 59,519 shares during the period. APG Asset Management US Inc. bought a new stake in Cisco Systems during the 4th quarter worth approximately $28,574,000. Finally, SWS Partners raised its holdings in Cisco Systems by 14.0% during the 4th quarter. SWS Partners now owns 35,354 shares of the network equipment provider’s stock worth $1,786,000 after buying an additional 4,333 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Up 0.3 %

Cisco Systems stock opened at $53.02 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The company’s 50-day moving average is $49.01 and its 200-day moving average is $48.15. The firm has a market capitalization of $213.61 billion, a PE ratio of 17.85, a P/E/G ratio of 4.11 and a beta of 0.83. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $54.58.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the company earned $1.01 earnings per share. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. Sell-side analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.02%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is 53.87%.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the sale, the executive vice president now directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock valued at $3,509,049 over the last ninety days. 0.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CSCO has been the subject of several research reports. Barclays lowered their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Piper Sandler reissued a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research note on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, Evercore ISI upped their price target on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.00.

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.