Proathlete Wealth Management LLC Has $325,000 Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Proathlete Wealth Management LLC boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,260 shares of the network equipment provider’s stock after buying an additional 581 shares during the period. Proathlete Wealth Management LLC’s holdings in Cisco Systems were worth $325,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CSCO. Norges Bank acquired a new position in Cisco Systems during the fourth quarter valued at $3,297,905,000. FMR LLC raised its position in Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after buying an additional 13,285,052 shares during the period. Raymond James Financial Inc. acquired a new position in Cisco Systems during the fourth quarter valued at $560,722,000. Alyeska Investment Group L.P. acquired a new position in Cisco Systems during the fourth quarter valued at $413,491,000. Finally, GAMMA Investing LLC raised its position in Cisco Systems by 7,096.5% during the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider’s stock valued at $414,593,000 after buying an additional 6,625,045 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jeetendra I. Patel sold 899 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the completion of the transaction, the insider now owns 255,377 shares of the company’s stock, valued at approximately $16,413,079.79. The trade was a 0.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 4,185 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total value 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 represents a 9.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,931 shares of company stock valued at $4,671,930. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

CSCO opened at $65.84 on Friday. The company has a market cap of $260.73 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 3.94 and a beta of 0.88. The stock has a 50-day moving average of $61.20 and a 200-day moving average of $60.74. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) 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 firm’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 EPS. As a group, 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.49%. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CSCO shares. Evercore ISI upped their price target on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” 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 research report on Friday, May 16th. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Piper Sandler boosted their target price on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $65.00 to $73.00 in a research note on Monday. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and an average 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.