Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Global Financial Private Client LLC

Global Financial Private Client LLC lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 26.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,336 shares of the network equipment provider’s stock after acquiring an additional 7,468 shares during the period. Cisco Systems accounts for approximately 0.8% of Global Financial Private Client LLC’s holdings, making the stock its 21st biggest position. Global Financial Private Client LLC’s holdings in Cisco Systems were worth $2,092,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. West Financial Advisors LLC increased its position in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares during the period. Highline Wealth Partners LLC grew its holdings in Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares during the period. Quarry LP raised its position in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Cisco Systems in the 3rd quarter valued at about $40,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Cisco Systems during the 3rd quarter valued at about $51,000. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Citigroup increased their price objective on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Piper Sandler raised their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Evercore ISI boosted their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Finally, Tigress Financial increased their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.28.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $59.19, for a total transaction of $180,055.98. Following the transaction, the executive vice president now owns 207,798 shares in the company, valued at approximately $12,299,563.62. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 over the last 90 days. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $58.76 on Tuesday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.23. The business’s 50-day moving average price is $58.73 and its two-hundred day moving average price is $53.26. 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 company has a market capitalization of $234.03 billion, a P/E ratio of 25.22, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating 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 firm had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. Analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Cisco Systems 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.