GAMMA Investing LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 13.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,357 shares of the network equipment provider's stock after buying an additional 10,813 shares during the quarter. Cisco Systems accounts for 0.5% of GAMMA Investing LLC's portfolio, making the stock its 28th largest position. GAMMA Investing LLC's holdings in Cisco Systems were worth $5,527,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in Cisco Systems by 25.6% during the 4th quarter. Versant Capital Management Inc now owns 7,624 shares of the network equipment provider's stock valued at $451,000 after acquiring an additional 1,556 shares during the period. First Financial Bank Trust Division grew its holdings in shares of Cisco Systems by 0.9% in the fourth quarter. First Financial Bank Trust Division now owns 53,924 shares of the network equipment provider's stock worth $3,192,000 after purchasing an additional 466 shares during the last quarter. Legacy Wealth Management LLC MS purchased a new position in shares of Cisco Systems in the third quarter worth $206,000. Birmingham Capital Management Co. Inc. AL raised its holdings in Cisco Systems by 9.7% during the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 22,320 shares of the network equipment provider's stock valued at $1,188,000 after buying an additional 1,970 shares during the last quarter. Finally, Logan Capital Management Inc. boosted its position in Cisco Systems by 10.1% during the 3rd quarter. Logan Capital Management Inc. now owns 295,303 shares of the network equipment provider's stock valued at $15,716,000 after buying an additional 27,175 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.
Cisco Systems Stock Down 0.4 %
CSCO traded down $0.24 during trading on Friday, hitting $58.86. 18,856,324 shares of the company's stock traded hands, compared to its average volume of 17,500,262. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $60.23. The company's 50 day simple moving average is $58.24 and its two-hundred day simple moving average is $52.58. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $234.43 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 4.37 and a beta of 0.85.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. Cisco Systems's revenue was down 5.6% on a year-over-year basis. Analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.
Cisco Systems Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Friday, January 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 68.67%.
Insider Buying and Selling at Cisco Systems
In other news, SVP Maria Victoria Wong sold 4,881 shares of the firm's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the transaction, the senior vice president now owns 51,931 shares of the company's stock, valued at $3,101,838.63. This trade represents a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kristina M. Johnson sold 7,500 shares of the business's stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the transaction, the director now owns 65,915 shares of the company's stock, valued at approximately $3,946,331.05. This trade represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the stock. StockNews.com raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. Piper Sandler upped their price target on Cisco Systems from $52.00 to $57.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. UBS Group lifted their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. Bank of America raised their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Finally, Evercore ISI boosted their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Friday, September 20th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.28.
Read Our Latest Stock Report on Cisco Systems
Cisco Systems Company Profile
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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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