KPP Advisory Services LLC Boosts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Cerbat Gem

KPP Advisory Services LLC boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 94.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,939 shares of the network equipment provider’s stock after acquiring an additional 13,074 shares during the period. KPP Advisory Services LLC’s holdings in Cisco Systems were worth $1,662,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Glass Jacobson Investment Advisors llc grew its stake in shares of Cisco Systems by 8.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock valued at $123,000 after buying an additional 166 shares in the last quarter. BlackDiamond Wealth Management LLC lifted its stake in Cisco Systems by 3.1% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock valued at $335,000 after acquiring an additional 168 shares during the last quarter. Legacy Financial Group Inc. grew its position in Cisco Systems by 3.4% in the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock worth $302,000 after acquiring an additional 169 shares in the last quarter. Maple Capital Management Inc. increased its stake in shares of Cisco Systems by 1.4% during the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock worth $709,000 after purchasing an additional 170 shares during the last quarter. Finally, Capital Advantage Inc. raised its holdings in shares of Cisco Systems by 1.0% during the 4th quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider’s stock valued at $1,028,000 after purchasing an additional 172 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

CSCO opened at $68.19 on Thursday. The stock’s 50 day simple moving average is $62.04 and its 200-day simple moving average is $60.95. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The stock has a market cap of $270.03 billion, a PE ratio of 27.83, a P/E/G ratio of 4.06 and a beta of 0.88. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $68.64.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. 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 firm posted $0.88 EPS. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.41%. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction dated 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 transaction, the chief executive officer now directly owns 688,409 shares of the company’s stock, valued at $44,478,105.49. This trade represents a 4.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the transaction, the executive vice president now owns 181,186 shares in the company, 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 have sold a total of 97,335 shares of company stock valued at $6,271,054 in the last 90 days. 0.01% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on CSCO. Piper Sandler increased their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. Wall Street Zen raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. JPMorgan Chase & Co. boosted their target price on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Citigroup upped their target price on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Finally, Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.11.

Read Our Latest Report on CSCO

Cisco Systems Company Profile

(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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