Liberty Capital Management Inc. Acquires 622 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Liberty Capital Management Inc. grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,317 shares of the network equipment provider’s stock after purchasing an additional 622 shares during the period. Liberty Capital Management Inc.’s holdings in Cisco Systems were worth $1,130,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mainstream Capital Management LLC bought a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $132,000. Proficio Capital Partners LLC raised its position 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 valued at $1,003,000 after purchasing an additional 7,338 shares during the period. Investment Management Corp of Ontario raised its position in shares of Cisco Systems by 44.6% in 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 purchasing an additional 59,680 shares during the period. Aveo Capital Partners LLC increased its holdings in Cisco Systems by 8.3% during the 4th quarter. Aveo Capital Partners LLC now owns 5,296 shares of the network equipment provider’s stock worth $314,000 after acquiring an additional 407 shares during the period. Finally, AlTi Global Inc. increased its holdings in Cisco Systems by 49.8% during the 4th quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider’s stock worth $1,217,000 after acquiring an additional 6,811 shares during the period. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of analyst reports. The Goldman Sachs Group upped their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Morgan Stanley reaffirmed a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. New Street Research reaffirmed a “neutral” rating and set a $70.00 target price on shares of Cisco Systems in a report on Friday, May 16th. Rosenblatt Securities upped their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Finally, DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Insider Activity

In other Cisco Systems news, EVP Oliver Tuszik sold 15,000 shares of the firm’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the sale, the executive vice president now owns 131,676 shares of the company’s stock, valued at $8,365,376.28. This trade represents a 10.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of the sale, the senior vice president now directly owns 36,937 shares in the company, valued at approximately $2,366,553.59. This trade represents a 2.02% 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. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

CSCO stock opened at $65.10 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The stock has a market cap of $257.80 billion, a PE ratio of 28.43, a P/E/G ratio of 4.16 and a beta of 0.88. The firm has a 50 day simple moving average of $60.25 and a two-hundred day simple moving average of $60.53.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter in the prior year, the company earned $0.88 EPS. The firm’s revenue was up 11.4% on a year-over-year basis. On average, analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.52%. Cisco Systems’s dividend payout ratio (DPR) is 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.