Lbp Am Sa Has $55.70 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Lbp Am Sa decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 902,572 shares of the network equipment provider’s stock after selling 39,816 shares during the period. Cisco Systems accounts for 0.9% of Lbp Am Sa’s investment portfolio, making the stock its 25th biggest holding. Lbp Am Sa’s holdings in Cisco Systems were worth $55,698,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC increased its stake in Cisco Systems by 10.8% in the first quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider’s stock valued at $389,000 after acquiring an additional 612 shares during the period. Proficio Capital Partners LLC grew its stake in Cisco Systems by 76.4% during the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock worth $1,003,000 after buying an additional 7,338 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Cisco Systems by 28.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider’s stock worth $249,180,000 after buying an additional 904,548 shares during the last quarter. Investment Management Corp of Ontario grew its stake in Cisco Systems by 44.6% during the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock worth $11,454,000 after buying an additional 59,680 shares during the last quarter. Finally, AlTi Global Inc. grew 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 buying an additional 6,811 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CSCO shares. Wells Fargo & Company upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. KeyCorp started coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They set an “overweight” rating and a $77.00 target price on the stock. Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Piper Sandler upped their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $69.53.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $68.59 on Wednesday. The company has a market capitalization of $271.62 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 4.12 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The company has a 50-day simple moving average of $64.40 and a 200 day simple moving average of $61.63. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $69.78.

Cisco Systems (NASDAQ:CSCO) last announced its 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 business had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the previous year, the firm posted $0.88 EPS. Cisco Systems’s revenue was up 11.4% compared to the same quarter last year. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is 66.94%.

Insiders Place Their Bets

In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the sale, the chief financial officer owned 309,543 shares in the company, valued at $20,281,257.36. The trade was a 4.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $154,072.07. Following the completion of the transaction, the executive vice president owned 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is currently owned by 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.