Foundation Wealth Management LLC PA Purchases Shares of 4,029 Cisco Systems, Inc. (NASDAQ:CSCO)

Foundation Wealth Management LLC PA acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 4,029 shares of the network equipment provider’s stock, valued at approximately $249,000.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Cisco Systems during the 4th quarter worth approximately $3,297,905,000. FMR LLC grew its holdings in Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after buying an additional 13,285,052 shares in the last quarter. Raymond James Financial Inc. bought a new position in Cisco Systems during the 4th quarter worth $560,722,000. Alyeska Investment Group L.P. acquired a new stake in shares of Cisco Systems during the fourth quarter worth $413,491,000. Finally, GAMMA Investing LLC boosted its position in shares of Cisco Systems by 7,096.5% in the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider’s stock valued at $414,593,000 after acquiring an additional 6,625,045 shares during the period. 73.33% of the stock is owned by institutional investors.

Cisco Systems Price Performance

Cisco Systems stock opened at $67.38 on Tuesday. The stock has a 50-day moving average price of $61.58 and a two-hundred day moving average price of $60.85. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $67.86. The company has a market capitalization of $266.82 billion, a PE ratio of 27.50, a P/E/G ratio of 3.97 and a beta of 0.88. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data 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. 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 analyst estimates of $14.05 billion. During the same quarter last year, the business earned $0.88 EPS. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. Analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued 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 yield of 2.43%. Cisco Systems’s payout ratio is 66.94%.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of recent research reports. Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Citigroup upped their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Evercore ISI raised their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.11.

Insider Buying and Selling

In other news, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the sale, the insider now directly owns 257,162 shares in the company, valued at $16,450,653.14. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the sale, the executive vice president now owns 181,186 shares of the company’s stock, valued at approximately $11,505,311. This trade represents a 5.05% decrease in their ownership of the stock. 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 three months. Insiders own 0.01% of the company’s stock.

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.