Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Catalyst Financial Partners LLC

Catalyst Financial Partners LLC increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% in the 1st quarter, HoldingsChannel reports. The fund owned 21,880 shares of the network equipment provider’s stock after acquiring an additional 571 shares during the period. Catalyst Financial Partners LLC’s holdings in Cisco Systems were worth $1,350,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC boosted its position in shares of Cisco Systems by 10.8% in the 1st quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider’s stock valued at $389,000 after purchasing an additional 612 shares during the period. Proficio Capital Partners LLC boosted its holdings in shares of Cisco Systems by 76.4% in 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 period. Wealth Enhancement Advisory Services LLC increased its position in shares of Cisco Systems by 28.9% in 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 acquiring an additional 904,548 shares in the last quarter. Investment Management Corp of Ontario lifted its position in shares of Cisco Systems by 44.6% in the 4th quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock valued at $11,454,000 after acquiring an additional 59,680 shares in the last quarter. Finally, AlTi Global Inc. grew its position in Cisco Systems by 49.8% during the 4th quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider’s stock worth $1,217,000 after purchasing an additional 6,811 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 2,407 shares of Cisco Systems stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total transaction of $154,072.07. Following the sale, the executive vice president directly owned 177,027 shares in the company, valued at approximately $11,331,498.27. The trade was a 1.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the transaction, the chief financial officer owned 309,543 shares of the company’s stock, valued at $20,281,257.36. This trade represents a 4.82% 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. 0.01% of the stock is owned by insiders.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $67.95 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78. The company has a fifty day moving average price of $65.02 and a 200 day moving average price of $61.83. The stock has a market cap of $269.08 billion, a P/E ratio of 27.73, a PEG ratio of 4.07 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating 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 analysts’ expectations of $14.05 billion. During the same quarter last year, the company earned $0.88 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. Analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.41%. Cisco Systems’s payout ratio is 66.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CSCO. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Piper Sandler upped their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. KeyCorp initiated 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. Wall Street Zen cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Rosenblatt Securities raised their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.53.

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.