BigSur Wealth Management LLC Has $463,000 Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

BigSur Wealth Management LLC decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 62.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,500 shares of the network equipment provider’s stock after selling 12,500 shares during the quarter. BigSur Wealth Management LLC’s holdings in Cisco Systems were worth $463,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Tallon Kerry Patrick purchased a new stake in Cisco Systems in the 4th quarter worth about $603,000. Brighton Jones LLC lifted its stake in Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after acquiring an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Cisco Systems by 37.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after acquiring an additional 2,474 shares in the last quarter. Stanley Laman Group Ltd. lifted its stake in Cisco Systems by 17.8% in the 4th quarter. Stanley Laman Group Ltd. now owns 11,417 shares of the network equipment provider’s stock worth $676,000 after acquiring an additional 1,722 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in Cisco Systems by 0.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 1,872,504 shares of the network equipment provider’s stock worth $111,610,000 after acquiring an additional 14,057 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, insider Jeetendra I. Patel sold 899 shares of Cisco Systems stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the sale, the insider now owns 255,377 shares of the company’s stock, valued at approximately $16,413,079.79. This trade represents a 0.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total value of $154,072.07. Following the sale, the executive vice president now directly owns 177,027 shares in the company, valued at $11,331,498.27. The trade was a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,931 shares of company stock valued at $4,671,930 in the last 90 days. 0.01% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on CSCO. JPMorgan Chase & Co. increased their price objective on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, May 15th. Rosenblatt Securities increased their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Citigroup increased their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Evercore ISI raised their price target on Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Finally, Piper Sandler raised their price target on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $68.00.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $64.09 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The firm has a market cap of $253.80 billion, a price-to-earnings ratio of 27.99, a P/E/G ratio of 4.16 and a beta of 0.88. The business’s 50-day simple moving average is $60.47 and its 200-day simple moving average is $60.56. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued 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 for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 EPS. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 66.94%.

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.