Fairway Wealth LLC Purchases 400 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Fairway Wealth LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 224.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 578 shares of the network equipment provider’s stock after purchasing an additional 400 shares during the quarter. Fairway Wealth LLC’s holdings in Cisco Systems were worth $36,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CSCO. Glass Jacobson Investment Advisors llc grew its position in 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. BlackDiamond Wealth Management LLC increased its stake in shares of Cisco Systems by 3.1% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock worth $335,000 after purchasing an additional 168 shares in the last quarter. Legacy Financial Group Inc. raised its position in shares of Cisco Systems by 3.4% in the fourth 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. Capital Advantage Inc. lifted its stake in shares of Cisco Systems by 1.0% during the 4th quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider’s stock valued at $1,028,000 after buying an additional 172 shares in the last quarter. Finally, Lynx Investment Advisory boosted its holdings in Cisco Systems by 3.9% in the 4th quarter. Lynx Investment Advisory now owns 4,593 shares of the network equipment provider’s stock worth $272,000 after buying an additional 174 shares during the period. Institutional investors own 73.33% of the company’s stock.

Insider Activity

In other news, CEO Charles Robbins sold 29,784 shares of Cisco Systems 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 transaction, the chief executive officer directly owned 688,409 shares of the company’s stock, valued at $44,478,105.49. The trade was a 4.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of Cisco Systems stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.50, for a total value of $612,330.50. Following the transaction, the executive vice president directly owned 181,186 shares in the company, valued at approximately $11,505,311. The trade was a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $69.64 on Monday. The stock has a fifty day moving average of $63.93 and a 200 day moving average of $61.51. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $69.78. The firm has a market capitalization of $275.77 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 4.15 and a beta of 0.90. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same quarter last year, the firm posted $0.88 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. As a group, research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.35%. Cisco Systems’s payout ratio is presently 66.94%.

Analysts Set New Price Targets

CSCO has been the topic of a number of analyst reports. Wall Street Zen raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Barclays restated an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Evercore ISI upped their price target on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. KeyCorp initiated coverage on Cisco Systems in a research report on Thursday, June 26th. They set an “overweight” rating and a $77.00 price target on the stock. Finally, Piper Sandler upped their price target on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.53.

Cisco Systems Company 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.