Petros Family Wealth LLC Increases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Petros Family Wealth LLC increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.3% during the first quarter, HoldingsChannel reports. The fund owned 30,006 shares of the network equipment provider’s stock after acquiring an additional 1,240 shares during the quarter. Cisco Systems makes up about 2.0% of Petros Family Wealth LLC’s portfolio, making the stock its 10th biggest holding. Petros Family Wealth LLC’s holdings in Cisco Systems were worth $1,852,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new stake in Cisco Systems in the 4th quarter valued at $3,297,905,000. FMR LLC increased 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 during the period. Raymond James Financial Inc. bought a new stake in Cisco Systems in the 4th quarter valued at $560,722,000. Alyeska Investment Group L.P. bought a new stake in Cisco Systems in the 4th quarter valued at $413,491,000. Finally, GAMMA Investing LLC increased its holdings in Cisco Systems by 7,096.5% in the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider’s stock valued at $414,593,000 after buying an additional 6,625,045 shares during the period. Institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 15,678 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the sale, the chief financial officer now directly owns 309,543 shares in the company, valued at $20,281,257.36. This trade represents a 4.82% decrease in their position. The sale 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 stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 688,409 shares in the company, valued at $44,478,105.49. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 in the last ninety days. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Cisco Systems stock opened at $67.38 on Tuesday. 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, Inc. has a 1 year low of $44.50 and a 1 year high of $67.86. The company has a market cap of $266.82 billion, a PE ratio of 27.50, a PEG ratio of 3.97 and a beta of 0.88. The company’s 50-day moving average is $61.58 and its two-hundred day moving average is $60.85.

Cisco Systems (NASDAQ:CSCO) last released its 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. 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 the consensus estimate of $14.05 billion. During the same period in the prior year, the company posted $0.88 EPS. The company’s revenue was up 11.4% compared to the same quarter last year. Equities 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 declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.43%. Cisco Systems’s dividend payout ratio is 66.94%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. New Street Research reissued a “neutral” rating and issued a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Evercore ISI upped their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. JPMorgan Chase & Co. upped their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Wall Street Zen raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and a consensus target price of $69.11.

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.