Keudell Morrison Wealth Management Increases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Keudell Morrison Wealth Management raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,484 shares of the network equipment provider’s stock after purchasing an additional 231 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Cisco Systems were worth $1,079,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC boosted its stake in shares of Cisco Systems by 20.8% in the fourth 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. Norges Bank purchased a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $3,297,905,000. Northern Trust Corp boosted its stake in shares of Cisco Systems by 11.4% in the fourth quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider’s stock valued at $2,796,505,000 after buying an additional 4,832,813 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Cisco Systems by 7.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider’s stock valued at $2,159,099,000 after buying an additional 2,637,006 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Cisco Systems by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock valued at $1,741,597,000 after buying an additional 681,555 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,726 shares of the business’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the sale, the executive vice president now owns 174,669 shares of the company’s stock, valued at approximately $11,447,806.26. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 15,678 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $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 90 days, insiders sold 97,335 shares of company stock valued at $6,271,054. Company insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $67.38 on Tuesday. The company has a market cap of $266.82 billion, a P/E ratio of 27.50, a P/E/G ratio of 3.97 and a beta of 0.88. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $67.86. The business has a fifty day simple moving average of $61.58 and a 200-day simple moving average of $60.85.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 earnings per share. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CSCO shares. Piper Sandler lifted their price target on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $65.00 to $73.00 in a report on Monday, June 16th. Wells Fargo & Company raised Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Rosenblatt Securities lifted their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. lifted their price objective on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.11.

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.