Nkcfo LLC Takes Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Nkcfo LLC purchased a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 121,000 shares of the network equipment provider’s stock, valued at approximately $7,467,000. Cisco Systems accounts for about 3.5% of Nkcfo LLC’s holdings, making the stock its 9th largest holding.

A number of other institutional investors also recently bought and sold shares of the stock. Galvin Gaustad & Stein LLC lifted its stake in Cisco Systems by 9.3% in the first quarter. Galvin Gaustad & Stein LLC now owns 9,316 shares of the network equipment provider’s stock worth $575,000 after purchasing an additional 796 shares during the last quarter. Shoker Investment Counsel Inc. lifted its stake in shares of Cisco Systems by 0.4% during the 1st quarter. Shoker Investment Counsel Inc. now owns 61,975 shares of the network equipment provider’s stock worth $3,825,000 after acquiring an additional 230 shares during the last quarter. Wealthstream Advisors Inc. lifted its stake in shares of Cisco Systems by 5.5% during the 1st quarter. Wealthstream Advisors Inc. now owns 3,687 shares of the network equipment provider’s stock worth $228,000 after acquiring an additional 191 shares during the last quarter. Metis Global Partners LLC boosted its holdings in Cisco Systems by 10.5% during the 1st quarter. Metis Global Partners LLC now owns 282,914 shares of the network equipment provider’s stock valued at $17,459,000 after acquiring an additional 26,815 shares during the period. Finally, Nemes Rush Group LLC grew its position in Cisco Systems by 1.0% in the 1st quarter. Nemes Rush Group LLC now owns 246,153 shares of the network equipment provider’s stock valued at $15,190,000 after acquiring an additional 2,372 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the sale, the executive vice president directly owned 174,669 shares in the company, valued at $11,447,806.26. This trade represents a 4.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeetendra I. Patel sold 899 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total transaction of $57,778.73. Following the transaction, the insider owned 255,377 shares in the company, valued at $16,413,079.79. The trade was a 0.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock valued at $6,271,054 in the last 90 days. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Up 0.6%

Shares of Cisco Systems stock opened at $68.69 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The company has a market cap of $272.01 billion, a P/E ratio of 28.04, a PEG ratio of 4.11 and a beta of 0.90. The firm’s 50 day moving average price is $66.43 and its 200-day moving average price is $62.46. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (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 for the quarter, compared to analyst estimates of $14.05 billion. During the same period in the previous year, the company earned $0.88 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Thursday, July 3rd. Cisco Systems’s dividend payout ratio is currently 66.94%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several research analyst reports. KeyCorp assumed coverage on Cisco Systems in a research report on Thursday, June 26th. They set an “overweight” rating and a $77.00 target price for the company. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $73.00 in a research report on Monday, June 16th. CICC Research started coverage on shares of Cisco Systems in a research note on Monday, July 14th. They issued an “outperform” rating and a $78.00 target price on the stock. Wall Street Zen downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. Finally, Piper Sandler boosted their price target on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.35.

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.