Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 16.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,145 shares of the network equipment provider’s stock after purchasing an additional 12,059 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Cisco Systems were worth $5,254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Navigoe LLC acquired a new position in shares of Cisco Systems during the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems in the fourth quarter worth about $26,000. JDM Financial Group LLC lifted its holdings in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after acquiring an additional 300 shares during the last quarter. Runnymede Capital Advisors Inc. bought a new position in shares of Cisco Systems during the 4th quarter valued at about $30,000. Finally, Campbell Capital Management Inc. acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $31,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO opened at $68.65 on Friday. The business’s 50-day moving average is $62.57 and its 200-day moving average is $61.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The company has a market capitalization of $271.85 billion, a price-to-earnings ratio of 28.02, a P/E/G ratio of 4.12 and a beta of 0.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.22.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 EPS. Equities research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.39%. Cisco Systems’s dividend payout ratio is 66.94%.

Analysts Set New Price Targets

CSCO has been the subject of several recent research reports. Evercore ISI increased their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $65.00 to $73.00 in a research report on Monday, June 16th. JPMorgan Chase & Co. lifted their target price on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. New Street Research reaffirmed a “neutral” rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Finally, Rosenblatt Securities increased their price target on Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $69.53.

Insider Buying and Selling at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 9,643 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the transaction, the executive vice president now owns 181,186 shares of the company’s stock, valued at approximately $11,505,311. This trade represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the sale, the executive vice president now directly owns 174,669 shares of the company’s stock, valued at $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 over the last 90 days. 0.01% of the stock is currently owned by corporate insiders.

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.