Accelerate Investment Advisors LLC Makes New $234,000 Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Accelerate Investment Advisors LLC acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,793 shares of the network equipment provider’s stock, valued at approximately $234,000.

A number of other hedge funds have also recently made changes to their positions in CSCO. Cornerstone Wealth Management LLC lifted its holdings in Cisco Systems by 1.2% in the 1st quarter. Cornerstone Wealth Management LLC now owns 42,886 shares of the network equipment provider’s stock worth $2,646,000 after purchasing an additional 489 shares in the last quarter. Cushing Capital Partners LLC bought a new stake in shares of Cisco Systems during the first quarter valued at approximately $1,003,000. Five Oceans Advisors purchased a new position in shares of Cisco Systems in the first quarter worth $332,000. Bell Bank boosted its position in shares of Cisco Systems by 1.6% during the first quarter. Bell Bank now owns 205,706 shares of the network equipment provider’s stock worth $12,694,000 after acquiring an additional 3,206 shares during the last quarter. Finally, Insigneo Advisory Services LLC increased its holdings in Cisco Systems by 4.9% in the 1st quarter. Insigneo Advisory Services LLC now owns 22,085 shares of the network equipment provider’s stock valued at $1,363,000 after acquiring an additional 1,032 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 0.3%

Shares of NASDAQ CSCO opened at $65.33 on Wednesday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The firm has a 50-day simple moving average of $60.86 and a two-hundred day simple moving average of $60.66. The company has a market cap of $258.71 billion, a P/E ratio of 26.67, a PEG ratio of 3.95 and a beta of 0.88. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. Cisco Systems’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company earned $0.88 EPS. Research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is currently 66.94%.

Analysts Set New Price Targets

Several research analysts have commented on CSCO shares. Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. New Street Research reissued a “neutral” rating and set a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. Rosenblatt Securities raised their price target on Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, May 15th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $69.11.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,407 shares of Cisco Systems stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total transaction of $154,072.07. Following the completion of the sale, the executive vice president now directly owns 177,027 shares of the company’s stock, valued at $11,331,498.27. The trade was a 1.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeetendra I. Patel sold 899 shares of the company’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total value of $57,778.73. Following the completion of the sale, the insider now owns 255,377 shares of the company’s stock, valued at $16,413,079.79. This represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,931 shares of company stock worth $4,671,930. Insiders own 0.01% of the company’s stock.

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.