Ballast Advisors LLC Grows Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Ballast Advisors LLC lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 9,121 shares of the network equipment provider’s stock after purchasing an additional 625 shares during the period. Ballast Advisors LLC’s holdings in Cisco Systems were worth $425,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Mitchell Capital Management Co. lifted its position in shares of Cisco Systems by 1.1% during the 2nd quarter. Mitchell Capital Management Co. now owns 48,340 shares of the network equipment provider’s stock worth $2,255,000 after purchasing an additional 507 shares during the last quarter. State of Michigan Retirement System lifted its position in shares of Cisco Systems by 5.7% during the 2nd quarter. State of Michigan Retirement System now owns 2,054,673 shares of the network equipment provider’s stock worth $95,830,000 after purchasing an additional 110,582 shares during the last quarter. Everett Harris & Co. CA lifted its position in Cisco Systems by 81.2% in the second quarter. Everett Harris & Co. CA now owns 29,934 shares of the network equipment provider’s stock valued at $1,396,000 after acquiring an additional 13,411 shares during the last quarter. Tompkins Financial Corp lifted its position in Cisco Systems by 5.0% in the second quarter. Tompkins Financial Corp now owns 143,634 shares of the network equipment provider’s stock valued at $6,698,000 after acquiring an additional 6,804 shares during the last quarter. Finally, Perigon Wealth Management LLC lifted its position in Cisco Systems by 0.5% in the second quarter. Perigon Wealth Management LLC now owns 117,984 shares of the network equipment provider’s stock valued at $5,503,000 after acquiring an additional 534 shares during the last quarter. 71.36% of the stock is owned by institutional investors and hedge funds.

In other Cisco Systems news, CAO Prat Bhatt sold 5,703 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $44.87, for a total value of $255,893.61. Following the sale, the chief accounting officer now owns 85,613 shares of the company’s stock, valued at $3,841,455.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.03% of the stock is owned by corporate insiders.

CSCO has been the subject of a number of research reports. Oppenheimer initiated coverage on shares of Cisco Systems in a research report on Thursday, May 28th. They issued a “buy” rating and a $46.00 price target for the company. Piper Sandler boosted their price target on shares of Cisco Systems from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the company from $48.00 to $55.00 in a research report on Tuesday, June 16th. Morgan Stanley raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and set a $54.00 price target for the company in a research report on Thursday, July 9th. Finally, Raymond James boosted their price target on shares of Cisco Systems from $48.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $50.33.

CSCO traded up $0.66 on Friday, hitting $47.10. 17,706,367 shares of the company were exchanged, compared to its average volume of 16,785,004. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 1.59. The business’s fifty day moving average is $46.07 and its 200 day moving average is $44.16. Cisco Systems, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $56.89. The firm has a market capitalization of $198.87 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 3.01 and a beta of 0.98.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.10. Cisco Systems had a net margin of 21.32% and a return on equity of 36.47%. The company had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.87 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Analysts forecast that Cisco Systems, Inc. will post 2.86 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Monday, July 6th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Thursday, July 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 50.53%.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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