Cisco Systems, Inc. (NASDAQ:CSCO) Stock Position Increased by Alta Capital Management LLC

Alta Capital Management LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,307 shares of the network equipment provider’s stock after acquiring an additional 3,859 shares during the period. Alta Capital Management LLC’s holdings in Cisco Systems were worth $4,709,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC lifted its stake in shares of Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after purchasing an additional 13,285,052 shares during the last quarter. Norges Bank bought a new stake in shares of Cisco Systems during the 4th quarter worth about $3,297,905,000. Northern Trust Corp increased its holdings in shares of Cisco Systems by 11.4% during the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider’s stock valued at $2,796,505,000 after acquiring an additional 4,832,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Cisco Systems by 7.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider’s stock valued at $2,159,099,000 after acquiring an additional 2,637,006 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Cisco Systems by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock worth $1,741,597,000 after purchasing an additional 681,555 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $65.00 to $73.00 in a report on Monday. Rosenblatt Securities lifted their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Piper Sandler upped their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Evercore ISI lifted their price target on Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.11.

Insider Activity at Cisco Systems

In other news, 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 value of $1,924,344.24. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeetendra I. Patel sold 899 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total transaction of $57,778.73. Following the transaction, the insider now owns 255,377 shares of the company’s stock, valued at approximately $16,413,079.79. This represents a 0.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,931 shares of company stock worth $4,671,930. 0.01% of the stock is owned by insiders.

Cisco Systems Price Performance

Cisco Systems stock opened at $65.84 on Friday. The business’s 50-day simple moving average is $61.20 and its 200 day simple moving average is $60.74. The company has a quick ratio of 0.87, a current ratio of 0.95 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 P/E/G ratio of 3.94 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 results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter in the previous year, the company earned $0.88 EPS. Cisco Systems’s revenue was up 11.4% on a year-over-year basis. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. 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 2.49%. Cisco Systems’s dividend payout ratio (DPR) is presently 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.