Peak Asset Management LLC Acquires 923 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Peak Asset Management LLC boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 239,960 shares of the network equipment provider’s stock after buying an additional 923 shares during the quarter. Cisco Systems makes up about 2.8% of Peak Asset Management LLC’s investment portfolio, making the stock its 12th largest holding. Peak Asset Management LLC’s holdings in Cisco Systems were worth $14,808,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CSCO. Glass Jacobson Investment Advisors llc lifted its holdings in Cisco Systems by 8.7% during the fourth 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 in the last quarter. Legacy Financial Group Inc. lifted its holdings in Cisco Systems by 3.4% during 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 in the last quarter. Capital Advantage Inc. lifted its holdings in Cisco Systems by 1.0% during the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider’s stock valued at $1,028,000 after purchasing an additional 172 shares in the last quarter. EdgeRock Capital LLC lifted its holdings in Cisco Systems by 3.9% during the first quarter. EdgeRock Capital LLC now owns 5,232 shares of the network equipment provider’s stock valued at $323,000 after purchasing an additional 197 shares in the last quarter. Finally, Eagle Global Advisors LLC lifted its holdings in Cisco Systems by 1.6% during the fourth quarter. Eagle Global Advisors LLC now owns 12,898 shares of the network equipment provider’s stock valued at $764,000 after purchasing an additional 200 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Trading Up 0.6%

Shares of CSCO opened at $68.69 on Friday. The company’s fifty day moving average is $66.43 and its 200 day moving average is $62.44. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.78. The stock has a market capitalization of $272.01 billion, a PE ratio of 28.04, a P/E/G ratio of 4.11 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.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share 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 company had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter in the previous year, the business posted $0.88 earnings per share. Cisco Systems’s quarterly revenue was up 11.4% on a year-over-year basis. Sell-side analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is 66.94%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Rosenblatt Securities lifted their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Wolfe Research assumed coverage on shares of Cisco Systems in a report on Tuesday, July 8th. They set a “peer perform” rating on the stock. KeyCorp assumed coverage on shares of Cisco Systems in a report on Thursday, June 26th. They set an “overweight” rating and a $77.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 12th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned 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 an average price target of $70.35.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of the business’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Charles Robbins sold 29,784 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the transaction, the chief executive officer owned 688,409 shares in the company, valued at $44,478,105.49. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,335 shares of company stock valued at $6,271,054. Insiders own 0.01% of the company’s stock.

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.