EP Wealth Advisors LLC Acquires 97,087 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

EP Wealth Advisors LLC increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 8.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,262,765 shares of the network equipment provider's stock after purchasing an additional 97,087 shares during the period. EP Wealth Advisors LLC's holdings in Cisco Systems were worth $59,994,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. increased its holdings in shares of Cisco Systems by 1.1% in the fourth quarter. Gilbert & Cook Inc. now owns 23,417 shares of the network equipment provider's stock worth $1,183,000 after acquiring an additional 264 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Cisco Systems by 24.3% in the fourth quarter. Jones Financial Companies Lllp now owns 34,944 shares of the network equipment provider's stock valued at $1,765,000 after buying an additional 6,838 shares in the last quarter. CWA Asset Management Group LLC boosted its holdings in shares of Cisco Systems by 6.4% in the fourth quarter. CWA Asset Management Group LLC now owns 36,843 shares of the network equipment provider's stock valued at $1,861,000 after buying an additional 2,204 shares during the period. NEOS Investment Management LLC increased its position in shares of Cisco Systems by 5.6% during the fourth quarter. NEOS Investment Management LLC now owns 195,474 shares of the network equipment provider's stock worth $9,875,000 after acquiring an additional 10,402 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its holdings in shares of Cisco Systems by 21.6% during the fourth quarter. Rafferty Asset Management LLC now owns 1,612,124 shares of the network equipment provider's stock worth $81,445,000 after acquiring an additional 286,665 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 27,143 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Richard Scott Herren sold 22,309 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total value of $1,115,450.00. Following the completion of the transaction, the chief financial officer now owns 293,184 shares of the company's stock, valued at approximately $14,659,200. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the firm's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock valued at $3,509,049 over the last quarter. 0.02% of the stock is owned by company insiders.

Cisco Systems Stock Performance

NASDAQ CSCO traded up $0.10 on Monday, reaching $53.12. The stock had a trading volume of 4,253,845 shares, compared to its average volume of 19,439,576. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $54.58. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The company has a market cap of $214.01 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 4.11 and a beta of 0.83. The firm has a fifty day moving average of $49.01 and a two-hundred day moving average of $48.14.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion during the quarter, compared to analysts' expectations of $13.53 billion. During the same quarter in the previous year, the company earned $1.01 EPS. The business's revenue was down 10.3% on a year-over-year basis. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems's dividend payout ratio (DPR) is presently 53.87%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barclays dropped their price target on Cisco Systems from $50.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a "hold" rating in a report on Thursday, August 15th. Piper Sandler reissued a "neutral" rating and set a $52.00 price target on shares of Cisco Systems in a research report on Thursday, August 15th. Hsbc Global Res upgraded Cisco Systems to a "strong-buy" rating in a research note on Friday, August 16th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Cisco Systems in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems currently has an average rating of "Hold" and a consensus price target of $55.00.

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.