Carr Financial Group Corp Raises Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Carr Financial Group Corp increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.3% in the 1st quarter, HoldingsChannel reports. The firm owned 7,061 shares of the network equipment provider’s stock after purchasing an additional 355 shares during the period. Carr Financial Group Corp’s holdings in Cisco Systems were worth $436,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Mainstream Capital Management LLC acquired a new stake in shares of Cisco Systems in the 4th quarter valued at $132,000. Proficio Capital Partners LLC increased its holdings in shares of Cisco Systems by 76.4% in the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock valued at $1,003,000 after acquiring an additional 7,338 shares during the last quarter. Investment Management Corp of Ontario raised its position in shares of Cisco Systems by 44.6% during the 4th quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock worth $11,454,000 after acquiring an additional 59,680 shares in the last quarter. AlTi Global Inc. lifted its stake in Cisco Systems by 49.8% during the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider’s stock worth $1,217,000 after purchasing an additional 6,811 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in Cisco Systems in the fourth quarter valued at approximately $282,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 2,407 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total value of $154,072.07. Following the completion of the transaction, the executive vice president now owns 177,027 shares of the company’s stock, valued at $11,331,498.27. The trade was a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the firm’s stock in a transaction that occurred on 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 owns 688,409 shares in the company, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,931 shares of company stock valued at $4,671,930 over the last quarter. Insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $65.84 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The stock has a market cap of $260.73 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 3.94 and a beta of 0.88. The company’s 50-day moving average price is $61.20 and its 200 day moving average price is $60.74. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week 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 for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same period last year, the company posted $0.88 EPS. The company’s revenue was up 11.4% on a year-over-year basis. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.49%. Cisco Systems’s dividend payout ratio is currently 66.94%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CSCO shares. JPMorgan Chase & Co. increased their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, May 15th. Wall Street Zen upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Wells Fargo & Company upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Evercore ISI boosted their target price on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.11.

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.