PCG Asset Management LLC Has $751,000 Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

PCG Asset Management LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.7% in the first quarter, Holdings Channel reports. The firm owned 12,164 shares of the network equipment provider’s stock after selling 600 shares during the quarter. PCG Asset Management LLC’s holdings in Cisco Systems were worth $751,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Navigoe LLC acquired a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $26,000. JDM Financial Group LLC boosted its stake in shares of Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Pandora Wealth Inc. acquired a new stake in shares of Cisco Systems in the 1st quarter valued at approximately $31,000. Finally, Fairway Wealth LLC boosted its stake in shares of Cisco Systems by 224.7% in the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CSCO. Piper Sandler raised their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Wall Street Zen downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. UBS Group lifted their target price on shares of Cisco Systems from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cisco Systems from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and an average price target of $70.55.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $71.79 on Monday. The firm has a market capitalization of $284.29 billion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 3.98 and a beta of 0.91. The firm has a fifty day simple moving average of $67.49 and a two-hundred day simple moving average of $63.05. 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 $72.02.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 EPS. Analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, July 3rd. Cisco Systems’s payout ratio is 66.94%.

Insider Buying and Selling

In related news, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the transaction, the insider owned 257,162 shares in the company, valued at approximately $16,450,653.14. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Oliver Tuszik sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the sale, the executive vice president directly owned 131,676 shares in the company, valued at approximately $8,365,376.28. This trade represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock worth $6,271,054 in the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Company 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.