Farther Finance Advisors LLC Purchases 8,106 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Farther Finance Advisors LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,161 shares of the network equipment provider’s stock after acquiring an additional 8,106 shares during the quarter. Farther Finance Advisors LLC’s holdings in Cisco Systems were worth $4,830,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CSCO. Tallon Kerry Patrick bought a new position in Cisco Systems in the fourth quarter valued at approximately $603,000. Brighton Jones LLC lifted its stake in Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock valued at $4,392,000 after buying an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock valued at $542,000 after buying an additional 2,474 shares in the last quarter. WCM Investment Management LLC lifted its stake in Cisco Systems by 152.6% in the fourth quarter. WCM Investment Management LLC now owns 88,025 shares of the network equipment provider’s stock valued at $5,210,000 after buying an additional 53,183 shares in the last quarter. Finally, Quotient Wealth Partners LLC lifted its stake in Cisco Systems by 27.6% in the fourth quarter. Quotient Wealth Partners LLC now owns 10,703 shares of the network equipment provider’s stock valued at $634,000 after buying an additional 2,312 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CSCO. Citigroup lifted their price target 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. The Goldman Sachs Group boosted their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Piper Sandler boosted their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. Wall Street Zen raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Finally, Rosenblatt Securities boosted their price objective 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 analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Cisco Systems Trading Down 0.2%

CSCO stock opened at $65.90 on Tuesday. 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’s 50-day simple moving average is $59.69 and its 200 day simple moving average is $60.43. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The company has a market capitalization of $260.96 billion, a PE ratio of 28.78, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88.

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

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 paid a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.49%. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems declared that its board has approved a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the sale, the chief executive officer now directly owns 688,409 shares of the company’s stock, valued at $44,478,105.49. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,400 shares of company stock worth $4,564,439. Corporate insiders own 0.01% of the company’s stock.

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.