Cisco Systems, Inc. (NASDAQ:CSCO) Stock Position Boosted by Parallel Advisors LLC

Parallel Advisors LLC boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 104,749 shares of the network equipment provider’s stock after buying an additional 2,324 shares during the period. Parallel Advisors LLC’s holdings in Cisco Systems were worth $6,463,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. FPC Investment Advisory Inc. bought a new position in shares of Cisco Systems during the 4th quarter valued at about $26,000. Navigoe LLC acquired a new position in shares of Cisco Systems in the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Cisco Systems in the fourth quarter worth about $26,000. JDM Financial Group LLC boosted its holdings in shares of Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after buying an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Cisco Systems in the fourth quarter worth about $30,000. Institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. The trade was a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the transaction, the senior vice president now owns 44,155 shares of the company’s stock, valued at $2,693,013.45. This represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,616 shares of company stock valued at $2,640,095. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

Cisco Systems stock opened at $63.05 on Friday. The stock has a 50-day simple moving average of $59.26 and a 200 day simple moving average of $60.07. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The stock has a market capitalization of $249.68 billion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The business had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same period in the previous year, the business posted $0.88 earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.60%. Cisco Systems’s dividend payout ratio is 66.94%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. New Street Research reissued a “neutral” rating and issued a $70.00 price target on shares of Cisco Systems in a research report on Friday, May 16th. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, Rosenblatt Securities increased their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $68.00.

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.