Atria Wealth Solutions Inc. Boosts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Atria Wealth Solutions Inc. increased its holdings in Cisco Systems by 7.3%, totaling 191,377 shares valued at approximately $11.81 million.
• Several institutional investors, including Brighton Jones LLC and Bank of Nova Scotia, significantly boosted their positions in Cisco during the fourth quarter, demonstrating growing confidence in the company.
• Cisco announced a quarterly dividend of $0.41 per share, representing an annualized payout of $1.64 and a yield of 2.4%, with a payout ratio currently at 66.94%.

Atria Wealth Solutions Inc. grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 7.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 191,377 shares of the network equipment provider's stock after purchasing an additional 13,004 shares during the period. Atria Wealth Solutions Inc.'s holdings in Cisco Systems were worth $11,810,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CSCO. Brighton Jones LLC boosted its position in Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock worth $4,392,000 after purchasing an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Cisco Systems by 37.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock worth $542,000 after buying an additional 2,474 shares during the period. Titleist Asset Management LLC acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $222,000. Federated Hermes Inc. raised its stake in shares of Cisco Systems by 6.6% during the 4th quarter. Federated Hermes Inc. now owns 197,008 shares of the network equipment provider's stock worth $11,663,000 after buying an additional 12,268 shares during the period. Finally, Bank of Nova Scotia raised its stake in shares of Cisco Systems by 73.6% during the 4th quarter. Bank of Nova Scotia now owns 2,646,681 shares of the network equipment provider's stock worth $156,684,000 after buying an additional 1,121,857 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.

Analysts Set New Price Targets

CSCO has been the subject of several research analyst reports. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. New Street Research reaffirmed a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. Wall Street Zen downgraded Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Citigroup increased their price objective on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, KeyCorp initiated coverage on Cisco Systems in a research note on Thursday, June 26th. They issued an "overweight" rating and a $77.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $70.55.

Insiders Place Their Bets

In other news, EVP Deborah L. Stahlkopf sold 9,643 shares of Cisco Systems stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the completion of the transaction, the executive vice president owned 181,186 shares in the company, valued at approximately $11,505,311. This trade represents a 5.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeetendra I. Patel sold 9,961 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the sale, the insider owned 257,162 shares of the company's stock, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,335 shares of company stock worth $6,271,054. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Trading Up 2.5%

NASDAQ CSCO traded up $1.69 during trading on Wednesday, hitting $69.21. The stock had a trading volume of 23,097,640 shares, compared to its average volume of 16,347,027. The company has a market capitalization of $274.07 billion, a PE ratio of 28.25, a PEG ratio of 3.78 and a beta of 0.91. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average price of $67.17 and a 200 day moving average price of $62.89. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. Cisco Systems's revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 EPS. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

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.