Twelve Points Wealth Management LLC Has $2.94 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Twelve Points Wealth Management LLC reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,586 shares of the network equipment provider’s stock after selling 2,907 shares during the period. Cisco Systems accounts for about 0.8% of Twelve Points Wealth Management LLC’s portfolio, making the stock its 27th largest holding. Twelve Points Wealth Management LLC’s holdings in Cisco Systems were worth $2,937,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Glass Jacobson Investment Advisors llc grew its stake in shares of 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 worth $123,000 after buying an additional 166 shares during the last quarter. BlackDiamond Wealth Management LLC grew its stake in shares of Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock worth $335,000 after buying an additional 168 shares during the last quarter. Legacy Financial Group Inc. grew its stake in shares of Cisco Systems by 3.4% in the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock worth $302,000 after buying an additional 169 shares during the last quarter. Capital Advantage Inc. grew its stake in shares of Cisco Systems by 1.0% in the 4th quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider’s stock worth $1,028,000 after buying an additional 172 shares during the last quarter. Finally, Lynx Investment Advisory grew its stake in shares of 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 last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on CSCO shares. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft raised 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, June 16th. Wells Fargo & Company raised Cisco Systems from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Eight 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.53.

Insider Activity

In other news, insider Jeetendra I. Patel sold 9,961 shares of the firm’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the transaction, the insider owned 257,162 shares in the company, valued at $16,450,653.14. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Oliver Tuszik sold 15,000 shares of Cisco Systems stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total transaction of $952,950.00. Following the completion of the transaction, the executive vice president directly owned 131,676 shares of the company’s stock, valued at $8,365,376.28. The trade was a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Trading Down 0.5%

Shares of CSCO stock opened at $68.59 on Wednesday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78. 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 firm has a market capitalization of $271.62 billion, a PE ratio of 28.00, a PEG ratio of 4.12 and a beta of 0.90. The stock has a fifty day simple moving average of $64.40 and a two-hundred day simple moving average of $61.63.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (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 business had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the prior year, the business posted $0.88 EPS. Cisco Systems’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company 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 dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.39%. Cisco Systems’s payout ratio is 66.94%.

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.