Sonora Investment Management Group LLC Acquires 12,876 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Sonora Investment Management Group LLC boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.9% in the 4th quarter, HoldingsChannel reports. The firm owned 345,485 shares of the network equipment provider’s stock after purchasing an additional 12,876 shares during the quarter. Cisco Systems makes up approximately 1.6% of Sonora Investment Management Group LLC’s portfolio, making the stock its 17th largest holding. Sonora Investment Management Group LLC’s holdings in Cisco Systems were worth $20,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CSCO. Pflug Koory LLC raised its holdings in Cisco Systems by 0.5% in the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock valued at $1,955,000 after acquiring an additional 165 shares in the last quarter. Beaumont Financial Advisors LLC raised its holdings in shares of Cisco Systems by 1.7% in the 4th quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider’s stock valued at $627,000 after purchasing an additional 173 shares in the last quarter. SeaCrest Wealth Management LLC lifted its position in shares of Cisco Systems by 0.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider’s stock worth $1,879,000 after purchasing an additional 178 shares during the last quarter. Aviso Wealth Management grew its stake in shares of Cisco Systems by 2.4% during the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock worth $405,000 after purchasing an additional 181 shares in the last quarter. Finally, Waypoint Capital Advisors LLC increased its holdings in Cisco Systems by 2.9% in the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock valued at $346,000 after buying an additional 182 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Piper Sandler upped their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Barclays upped their price target on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Tuesday. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the company from $66.00 to $73.00 in a report on Monday, January 6th. Finally, UBS Group lifted their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.72.

Cisco Systems Price Performance

Cisco Systems stock opened at $60.47 on Friday. The business has a 50 day simple moving average of $59.34 and a 200-day simple moving average of $54.35. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $62.31. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The stock has a market capitalization of $240.84 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 4.43 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter last year, the business earned $0.98 EPS. The business’s revenue was down 5.6% on a year-over-year basis. Equities analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the sale, the executive vice president now owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the sale, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 in the last three months. 0.01% of the stock is currently owned by company insiders.

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.