Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Lakeridge Wealth Management LLC

Lakeridge Wealth Management LLC boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,150 shares of the network equipment provider’s stock after buying an additional 473 shares during the period. Lakeridge Wealth Management LLC’s holdings in Cisco Systems were worth $318,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc raised its stake in shares of Cisco Systems by 8.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock valued at $123,000 after purchasing an additional 166 shares during the period. Fairhaven Wealth Management LLC raised its stake in shares of Cisco Systems by 2.3% in the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock valued at $449,000 after purchasing an additional 167 shares during the period. BlackDiamond Wealth Management LLC raised its stake in shares of Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock valued at $335,000 after purchasing an additional 168 shares during the period. Legacy Financial Group Inc. raised its stake in shares of Cisco Systems by 3.4% in the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock valued at $302,000 after purchasing an additional 169 shares during the period. Finally, Maple Capital Management Inc. grew its holdings in shares of Cisco Systems by 1.4% in the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock valued at $709,000 after acquiring an additional 170 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Oliver Tuszik sold 15,000 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the completion of the sale, the executive vice president now directly owns 131,676 shares in the company, valued at approximately $8,365,376.28. The trade was a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the sale, the chief executive officer now owns 688,409 shares of the company’s stock, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,931 shares of company stock worth $4,671,930. Corporate insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Citigroup raised their price objective on Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Barclays restated an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Cisco Systems Trading Down 1.6%

Shares of CSCO stock opened at $64.09 on Friday. The firm has a 50 day moving average price of $60.47 and a two-hundred day moving average price of $60.56. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $253.80 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion during 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 business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the business posted $0.88 earnings per share. As a group, analysts predict that Cisco Systems, Inc. will post 3.04 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, July 23rd. Stockholders of record on Thursday, July 3rd will be given 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 2.56%. Cisco Systems’s payout ratio is 66.94%.

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.