Osprey Private Wealth LLC Raises Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Osprey Private Wealth LLC increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 28.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 48,485 shares of the network equipment provider’s stock after acquiring an additional 10,785 shares during the quarter. Cisco Systems comprises approximately 1.8% of Osprey Private Wealth LLC’s investment portfolio, making the stock its 25th biggest position. Osprey Private Wealth LLC’s holdings in Cisco Systems were worth $2,992,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new stake in Cisco Systems in the 4th quarter worth $26,000. Navigoe LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at about $26,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Cisco Systems in the fourth quarter worth about $26,000. JDM Financial Group LLC grew its stake in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Cisco Systems in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $65.10 on Friday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The business’s fifty day simple moving average is $60.25 and its 200-day simple moving average is $60.53. The firm has a market cap of $257.80 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its 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 return on equity of 26.08% and a net margin of 16.96%. The firm had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the prior year, the company earned $0.88 EPS. Cisco Systems’s revenue was up 11.4% on a year-over-year basis. Equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s payout ratio is 66.94%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. The Goldman Sachs Group boosted their target price on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. New Street Research reiterated a “neutral” rating and set a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Evercore ISI upped their target price on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Finally, UBS Group upped their target price on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Insider Buying and Selling

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the sale, the insider now owns 257,162 shares of the company’s stock, valued at $16,450,653.14. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Robbins sold 29,784 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the sale, the chief executive officer now directly owns 688,409 shares in the company, valued at $44,478,105.49. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,931 shares of company stock valued at $4,671,930. 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.