Lokken Investment Group LLC Acquires 2,698 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Lokken Investment Group LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,413 shares of the network equipment provider’s stock after acquiring an additional 2,698 shares during the quarter. Lokken Investment Group LLC’s holdings in Cisco Systems were worth $1,815,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CSCO. Navigoe LLC purchased a new position in shares of Cisco Systems during the fourth quarter valued at about $26,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Cisco Systems during the fourth quarter valued at about $26,000. JDM Financial Group LLC grew its position in shares of Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. purchased a new position in shares of Cisco Systems during the fourth quarter valued at about $30,000. Finally, Fairway Wealth LLC grew its position in Cisco Systems by 224.7% in the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 400 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Down 1.2%

Shares of NASDAQ CSCO opened at $67.95 on Monday. 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 $269.08 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 4.07 and a beta of 0.90. The stock has a 50 day moving average price of $65.02 and a 200 day moving average price of $61.83. 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 quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. Cisco Systems’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 earnings per share. Sell-side 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 announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders 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 dividend on an annualized basis and a yield of 2.41%. Cisco Systems’s dividend payout ratio is currently 66.94%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CSCO shares. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. Citigroup lifted their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. KeyCorp started coverage on Cisco Systems in a research report on Thursday, June 26th. They issued an “overweight” rating and a $77.00 price target for the company. 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. Finally, Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.53.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,407 shares of the company’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total transaction of $154,072.07. Following the completion of the sale, the executive vice president owned 177,027 shares in the company, valued at $11,331,498.27. This represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeetendra I. Patel sold 899 shares of the company’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total value of $57,778.73. Following the sale, the insider owned 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. Insiders have sold 97,335 shares of company stock valued at $6,271,054 over the last 90 days. Insiders own 0.01% of the company’s stock.

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.