1,913,222 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Bought by Confluence Investment Management LLC

Confluence Investment Management LLC purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,913,222 shares of the network equipment provider’s stock, valued at approximately $95,489,000. Cisco Systems accounts for 1.3% of Confluence Investment Management LLC’s investment portfolio, making the stock its 26th largest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valued Wealth Advisors LLC acquired a new stake in shares of Cisco Systems during the fourth quarter valued at about $32,000. Delos Wealth Advisors LLC boosted its holdings in Cisco Systems by 1,666.7% in the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after acquiring an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in shares of Cisco Systems during the fourth quarter worth approximately $33,000. Morton Brown Family Wealth LLC raised its position in shares of Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the period. Finally, Bourgeon Capital Management LLC raised its position in shares of Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 0.3 %

Cisco Systems stock traded up $0.15 during trading hours on Tuesday, reaching $45.84. The company had a trading volume of 6,109,312 shares, compared to its average volume of 19,283,094. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The company has a 50-day moving average price of $47.36 and a 200 day moving average price of $48.89. The firm has a market cap of $184.68 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 2.65 and a beta of 0.86. Cisco Systems, Inc. has a 12-month low of $44.95 and a 12-month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business’s quarterly revenue was down 12.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. Equities analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.49%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wells Fargo & Company increased their price target on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, May 16th. Oppenheimer increased their price target on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. Piper Sandler reissued a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft increased their price target on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. Finally, Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $55.00 to $60.00 in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $56.47.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the sale, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares in the company, valued at $2,352,210.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the sale, the executive vice president now owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,106 shares of company stock valued at $1,908,923. 0.02% of the stock is currently owned by corporate insiders.

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.