Fifth Third Wealth Advisors LLC Buys 13,104 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Fifth Third Wealth Advisors LLC grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 23.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,188 shares of the network equipment provider’s stock after purchasing an additional 13,104 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Cisco Systems were worth $4,270,000 at the end of the most recent reporting period.

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

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 4,185 shares of the company’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total value of $265,789.35. Following the transaction, the senior vice president now directly owns 38,103 shares in the company, valued at approximately $2,419,921.53. The trade was a 9.90% 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. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 0.4%

NASDAQ CSCO opened at $62.81 on Friday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The company has a market capitalization of $248.73 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. The company’s 50-day simple moving average is $59.30 and its two-hundred day simple moving average is $60.11.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data 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. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm earned $0.88 earnings per share. Equities analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders 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 2.61%. Cisco Systems’s dividend payout ratio is presently 66.94%.

Wall Street Analyst Weigh In

CSCO has been the subject of several analyst reports. Evercore ISI raised their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Piper Sandler raised their price target on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. upped their price objective on Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, May 15th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Citigroup boosted their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

About Cisco Systems

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.