Alpha Omega Wealth Management LLC Trims Position in Cisco Systems, Inc. $CSCO

Key Points

• Alpha Omega Wealth Management LLC trimmed its stake in Cisco by 10% in Q4, selling 15,997 shares to hold 143,585 shares worth $11.06 million (about 1.8% of its portfolio and its 11th largest position).
• Multiple brokerages have raised targets and ratings (e.g., CICC to $96, JPMorgan to $95), leaving Cisco with a MarketBeat average rating of "Moderate Buy" and an average target price of $89.76.
• Cisco beat quarterly estimates with $1.04 EPS and $15.35B revenue (+9.7% YoY) and increased its quarterly dividend to $0.42 (annualized $1.68, ~2.0% yield).

Alpha Omega Wealth Management LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 10.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,585 shares of the network equipment provider's stock after selling 15,997 shares during the quarter. Cisco Systems makes up 1.8% of Alpha Omega Wealth Management LLC's portfolio, making the stock its 11th largest position. Alpha Omega Wealth Management LLC's holdings in Cisco Systems were worth $11,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in CSCO. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cisco Systems by 6.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,189,645 shares of the network equipment provider's stock worth $218,236,000 after acquiring an additional 205,043 shares in the last quarter. Greystone Financial Group LLC bought a new position in Cisco Systems during the 3rd quarter worth about $8,563,000. Jones Financial Companies Lllp grew its holdings in Cisco Systems by 8.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 686,469 shares of the network equipment provider's stock worth $46,165,000 after acquiring an additional 56,057 shares in the last quarter. Rockland Trust Co. grew its holdings in Cisco Systems by 213.8% during the 3rd quarter. Rockland Trust Co. now owns 20,497 shares of the network equipment provider's stock worth $1,402,000 after acquiring an additional 13,966 shares in the last quarter. Finally, CX Institutional grew its holdings in Cisco Systems by 11.0% during the 3rd quarter. CX Institutional now owns 144,336 shares of the network equipment provider's stock worth $9,875,000 after acquiring an additional 14,334 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CSCO. CICC Research increased their target price on shares of Cisco Systems from $84.00 to $96.00 and gave the stock an "outperform" rating in a report on Friday, February 13th. Zacks Research upgraded shares of Cisco Systems from a "hold" rating to a "strong-buy" rating in a report on Monday, January 26th. JPMorgan Chase & Co. increased their target price on shares of Cisco Systems from $90.00 to $95.00 and gave the stock an "overweight" rating in a report on Monday, February 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Cisco Systems in a report on Tuesday, January 27th. Finally, HSBC increased their target price on shares of Cisco Systems from $74.00 to $77.00 and gave the stock a "hold" rating in a report on Friday, February 13th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $89.76.

Cisco Systems Stock Down 0.6%

NASDAQ:CSCO opened at $83.17 on Friday. Cisco Systems, Inc. has a fifty-two week low of $53.83 and a fifty-two week high of $88.18. The stock has a market capitalization of $328.51 billion, a P/E ratio of 29.18, a P/E/G ratio of 3.16 and a beta of 0.83. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96. The company's 50-day simple moving average is $79.66 and its 200-day simple moving average is $76.01.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.02. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The business had revenue of $15.35 billion for the quarter, compared to analysts' expectations of $15.11 billion. During the same period last year, the business earned $0.94 EPS. The company's revenue was up 9.7% compared to the same quarter last year. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be issued a $0.42 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Cisco Systems's previous quarterly dividend of $0.41. Cisco Systems's dividend payout ratio (DPR) is 58.95%.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 551 shares of the firm's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $77.54, for a total value of $42,724.54. Following the sale, the senior vice president directly owned 27,957 shares in the company, valued at approximately $2,167,785.78. This trade represents a 1.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Oliver Tuszik sold 3,132 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $79.74, for a total transaction of $249,745.68. Following the completion of the transaction, the executive vice president directly owned 188,613 shares of the company's stock, valued at $15,040,000.62. The trade was a 1.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 46,431 shares of company stock worth $3,574,820. Insiders own 0.01% of the company's stock.

About Cisco Systems

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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