Johnson Investment Counsel Inc. Acquires 8,116 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Johnson Investment Counsel Inc. lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 228,328 shares of the network equipment provider’s stock after purchasing an additional 8,116 shares during the period. Johnson Investment Counsel Inc.’s holdings in Cisco Systems were worth $14,090,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. FPC Investment Advisory Inc. purchased a new stake in Cisco Systems during the 4th quarter valued at about $26,000. Navigoe LLC purchased a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC bought a new position in shares of Cisco Systems in the fourth quarter worth approximately $26,000. JDM Financial Group LLC increased its stake in shares of Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after buying an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems during the 4th quarter valued at $30,000. 73.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CSCO shares. Wells Fargo & Company upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Piper Sandler boosted their price target on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Citigroup upped their price target on Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Evercore ISI lifted their price objective on Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Finally, Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.11.

Insider Buying and Selling at Cisco Systems

In related news, insider Jeetendra I. Patel sold 899 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total transaction of $57,778.73. Following the completion of the sale, the insider now owns 255,377 shares of the company’s stock, valued at $16,413,079.79. This trade represents a 0.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was 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 owns 688,409 shares of the company’s stock, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,931 shares of company stock worth $4,671,930. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $65.84 on Thursday. The company’s fifty day moving average price is $61.02 and its 200-day moving average price is $60.69. The stock has a market cap of $260.73 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 3.91 and a beta of 0.88. 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 12 month low of $44.50 and a 12 month high of $66.50.

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 net margin of 17.60% and a return on equity of 26.48%. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the previous year, the firm posted $0.88 earnings per share. Cisco Systems’s quarterly revenue was up 11.4% on a year-over-year basis. On average, equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed 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. This represents a $1.64 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 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.