Transce3nd LLC Acquires 1,675 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Transce3nd LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 103.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,300 shares of the network equipment provider’s stock after purchasing an additional 1,675 shares during the period. Transce3nd LLC’s holdings in Cisco Systems were worth $204,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Navigoe LLC purchased a new position in shares of Cisco Systems during the fourth quarter valued at about $26,000. Mpwm Advisory Solutions LLC purchased a new position in Cisco Systems in the fourth quarter worth about $26,000. JDM Financial Group LLC grew its position in 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 acquiring an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. purchased a new position in Cisco Systems in the fourth quarter worth about $30,000. Finally, Fairway Wealth LLC grew its position in Cisco Systems by 224.7% in the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the subject of several recent research reports. New Street Research reiterated a “neutral” rating and issued a $70.00 price target on shares of Cisco Systems in a research report on Friday, May 16th. Morgan Stanley lifted their price target on Cisco Systems from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday. Wolfe Research assumed coverage on Cisco Systems in a research report on Tuesday, July 8th. They issued a “peer perform” rating for the company. CICC Research assumed coverage on shares of Cisco Systems in a research note on Monday. They issued an “outperform” rating and a $78.00 price objective for the company. Finally, Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.35.

Cisco Systems Price Performance

NASDAQ CSCO opened at $68.30 on Friday. The firm’s fifty day simple moving average is $65.67 and its two-hundred day simple moving average is $62.03. 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 $69.78. The firm has a market capitalization of $270.47 billion, a P/E ratio of 27.88, a P/E/G ratio of 4.03 and a beta of 0.90.

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. 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 period in the previous year, the company earned $0.88 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal 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 issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Insider Activity

In other news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total transaction of $48,821.34. Following the sale, the senior vice president directly owned 36,937 shares of the company’s stock, valued at $2,366,553.59. The trade was a 2.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the business’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the sale, the executive vice president directly owned 174,669 shares in the company, valued at $11,447,806.26. This trade represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is owned by corporate insiders.

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.