Kingswood Wealth Advisors LLC raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 68.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,029 shares of the network equipment provider's stock after buying an additional 20,265 shares during the period. Kingswood Wealth Advisors LLC's holdings in Cisco Systems were worth $2,527,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the company. Exeter Financial LLC increased its holdings in shares of Cisco Systems by 0.6% in the fourth quarter. Exeter Financial LLC now owns 96,640 shares of the network equipment provider's stock valued at $4,823,000 after purchasing an additional 615 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Cisco Systems by 32.7% in the fourth quarter. Pacer Advisors Inc. now owns 7,749,370 shares of the network equipment provider's stock valued at $391,498,000 after purchasing an additional 1,909,597 shares in the last quarter. Steigerwald Gordon & Koch Inc. increased its holdings in shares of Cisco Systems by 4.4% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 16,565 shares of the network equipment provider's stock valued at $837,000 after purchasing an additional 691 shares in the last quarter. Alaska Wealth Advisors acquired a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $394,000. Finally, Engrave Wealth Partners LLC grew its holdings in Cisco Systems by 11.3% during the 4th quarter. Engrave Wealth Partners LLC now owns 7,485 shares of the network equipment provider's stock worth $378,000 after acquiring an additional 762 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.
Cisco Systems Stock Down 0.3 %
CSCO stock traded down $0.13 during midday trading on Tuesday, hitting $49.55. The company's stock had a trading volume of 13,001,850 shares, compared to its average volume of 20,009,225. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. The company's fifty day moving average price is $49.80 and its 200 day moving average price is $50.99. The stock has a market capitalization of $200.64 billion, a P/E ratio of 15.06, a PEG ratio of 2.25 and a beta of 0.87.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.03. The firm had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company's revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 EPS. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3.16 EPS for the current year.
Cisco Systems Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.23%. This is a boost from Cisco Systems's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, April 3rd. Cisco Systems's dividend payout ratio is presently 47.42%.
Analysts Set New Price Targets
A number of analysts have commented on the stock. Wells Fargo & Company assumed coverage on shares of Cisco Systems in a report on Thursday, February 15th. They set an "equal weight" rating and a $52.00 target price for the company. Barclays lifted their target price on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday, February 15th. Piper Sandler lifted their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 20th. Melius Research reissued a "hold" rating and set a $55.00 price target on shares of Cisco Systems in a research report on Monday, January 8th. Finally, StockNews.com cut shares of Cisco Systems from a "buy" rating to a "hold" rating in a research report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of "Hold" and a consensus target price of $56.42.
View Our Latest Research Report on Cisco Systems
Insider Activity
In other news, CFO Richard Scott Herren sold 13,942 shares of the firm's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares of the company's stock, valued at $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares of the company's stock, valued at $16,424,550. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the sale, the senior vice president now directly owns 58,121 shares of the company's stock, valued at $2,906,050. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is owned by company insiders.
About Cisco Systems
(Free Report)
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.
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