Pasadena Private Wealth LLC Has $486,000 Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Pasadena Private Wealth LLC reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,206 shares of the network equipment provider’s stock after selling 707 shares during the quarter. Pasadena Private Wealth LLC’s holdings in Cisco Systems were worth $486,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC raised its holdings in Cisco Systems by 76.7% in the 4th 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. RPg Family Wealth Advisory LLC acquired a new stake in shares of Cisco Systems in the third quarter valued at about $40,000. Decker Retirement Planning Inc. bought a new position in shares of Cisco Systems in the fourth quarter worth about $49,000. Capital Performance Advisors LLP bought a new stake in Cisco Systems during the 3rd quarter valued at approximately $51,000. Finally, FSA Wealth Management LLC acquired a new stake in Cisco Systems in the 3rd quarter valued at approximately $56,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CSCO shares. UBS Group increased their price objective on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Rosenblatt Securities upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the company from $66.00 to $80.00 in a research note on Thursday, February 13th. Piper Sandler boosted their price target on Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Melius upgraded 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 research note on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.53.

Insider Buying and Selling at Cisco Systems

In related news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the transaction, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 19,929 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the completion of the transaction, the chief financial officer now owns 335,605 shares of the company’s stock, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,921 shares of company stock worth $4,298,667. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $64.59 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The company’s 50 day moving average price is $60.31 and its two-hundred day moving average price is $55.89. The company has a market capitalization of $257.25 billion, a P/E ratio of 28.21, a price-to-earnings-growth ratio of 4.55 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, analysts expect that Cisco Systems, Inc. will post 3.01 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is currently 69.87%.

Cisco Systems declared that its board has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

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.