Robertson Stephens Wealth Management LLC Grows Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Robertson Stephens Wealth Management LLC increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,360 shares of the network equipment provider’s stock after acquiring an additional 1,277 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Cisco Systems were worth $3,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Mainstream Capital Management LLC purchased a new stake in Cisco Systems during the 4th quarter valued at about $132,000. Proficio Capital Partners LLC lifted its stake in shares of Cisco Systems by 76.4% in the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock worth $1,003,000 after buying an additional 7,338 shares in the last quarter. Investment Management Corp of Ontario grew its holdings in shares of Cisco Systems by 44.6% during the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock valued at $11,454,000 after buying an additional 59,680 shares during the last quarter. AlTi Global Inc. increased its position in shares of Cisco Systems by 49.8% during the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider’s stock valued at $1,217,000 after acquiring an additional 6,811 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in Cisco Systems in the 4th quarter worth approximately $282,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Down 0.3%

CSCO opened at $65.33 on Wednesday. The firm’s 50 day simple moving average is $60.86 and its two-hundred day simple moving average is $60.66. The company has a market capitalization of $258.71 billion, a PE ratio of 26.67, a PEG ratio of 3.95 and a beta of 0.88. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. 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 (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same period in the prior year, the business posted $0.88 EPS. Cisco Systems’s revenue was up 11.4% on a year-over-year basis. As a group, equities analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.51%. Cisco Systems’s payout ratio is currently 66.94%.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the sale, the chief executive officer now directly owns 688,409 shares in the company, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 4,185 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.51, for a total transaction of $265,789.35. Following the transaction, the senior vice president now directly owns 38,103 shares of the company’s stock, valued at $2,419,921.53. This trade represents a 9.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,931 shares of company stock valued at $4,671,930 in the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Evercore ISI increased their target price on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Piper Sandler increased their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $73.00 in a research report on Monday. New Street Research reaffirmed a “neutral” rating and set a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $69.11.

Cisco Systems 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.