Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Onyx Bridge Wealth Group LLC

by · The Cerbat Gem

Onyx Bridge Wealth Group LLC grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 12.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,539 shares of the network equipment provider’s stock after acquiring an additional 1,092 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Cisco Systems were worth $589,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CSCO. Navigoe LLC acquired a new stake in shares of Cisco Systems during the 4th quarter worth about $26,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $26,000. JDM Financial Group LLC boosted its position in Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after acquiring an additional 300 shares during the last quarter. Runnymede Capital Advisors Inc. purchased a new stake in Cisco Systems in the 4th quarter worth approximately $30,000. Finally, Campbell Capital Management Inc. acquired a new position in Cisco Systems in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wall Street Zen raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. JPMorgan Chase & Co. upped their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, May 15th. Piper Sandler increased their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. Finally, Wells Fargo & Company upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.53.

Read Our Latest Stock Report on Cisco Systems

Cisco Systems Stock Up 1.5%

Shares of Cisco Systems stock opened at $69.64 on Friday. The company has a fifty day moving average price of $63.67 and a 200 day moving average price of $61.38. 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 twelve month low of $44.50 and a twelve month high of $69.78. The stock has a market cap of $275.77 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 4.10 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. The company 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 company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 earnings per share. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.35%. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,407 shares of the business’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total value of $154,072.07. Following the transaction, the executive vice president owned 177,027 shares in the company, valued at $11,331,498.27. The trade was a 1.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total value of $48,821.34. Following the sale, the senior vice president owned 36,937 shares of the company’s stock, valued at $2,366,553.59. This represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is currently owned by insiders.

About Cisco Systems

(Free Report)

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.

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