Cisco Systems, Inc. $CSCO Shares Acquired by Patriot Financial Group Insurance Agency LLC

Key Points

• Patriot Financial Group Insurance Agency LLC boosted its Cisco stake by 224.6%, buying 16,963 shares to hold 24,516 shares valued at about $1.89 million at quarter-end amid ~73% institutional ownership.
• Cisco beat quarterly estimates with EPS of $1.04 (vs. $1.02) and revenue of $15.35B (up 9.7% y/y), raised its quarterly dividend to $0.42, and carries a consensus analyst rating of "Moderate Buy" with a $89.81 target.
• Company insiders sold a total of 46,431 shares worth roughly $3.57 million over the last quarter, leaving insiders with only 0.01% ownership.

Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 224.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,516 shares of the network equipment provider's stock after purchasing an additional 16,963 shares during the period. Patriot Financial Group Insurance Agency LLC's holdings in Cisco Systems were worth $1,889,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Invesco Ltd. lifted its stake in Cisco Systems by 10.5% during the third quarter. Invesco Ltd. now owns 53,612,720 shares of the network equipment provider's stock valued at $3,668,182,000 after purchasing an additional 5,081,469 shares during the last quarter. Northern Trust Corp lifted its stake in Cisco Systems by 3.5% during the third quarter. Northern Trust Corp now owns 48,498,612 shares of the network equipment provider's stock valued at $3,318,275,000 after purchasing an additional 1,631,703 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Cisco Systems by 4.4% in the 3rd quarter. Franklin Resources Inc. now owns 42,641,483 shares of the network equipment provider's stock valued at $2,917,530,000 after acquiring an additional 1,804,625 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Cisco Systems by 7.2% in the 3rd quarter. Legal & General Group Plc now owns 37,674,954 shares of the network equipment provider's stock valued at $2,577,720,000 after acquiring an additional 2,535,716 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Cisco Systems by 19.5% in the 3rd quarter. Wellington Management Group LLP now owns 33,748,414 shares of the network equipment provider's stock valued at $2,309,066,000 after acquiring an additional 5,498,375 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cisco Systems

In other news, EVP Oliver Tuszik sold 3,132 shares of the stock in a transaction 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 transaction, the executive vice president owned 188,613 shares in the company, valued at $15,040,000.62. This represents a 1.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 7,981 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $79.50, for a total transaction of $634,489.50. Following the transaction, the executive vice president owned 187,097 shares in the company, valued at approximately $14,874,211.50. This trade represents a 4.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 46,431 shares of company stock worth $3,574,820 over the last quarter. 0.01% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CSCO. JPMorgan Chase & Co. upped their price target on shares of Cisco Systems from $95.00 to $96.00 and gave the company an "overweight" rating in a research report on Thursday. Truist Financial began coverage on shares of Cisco Systems in a research report on Tuesday, March 31st. They issued a "buy" rating and a $94.00 price target for the company. Zacks Research downgraded shares of Cisco Systems from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. HSBC upped their price target on shares of Cisco Systems from $74.00 to $77.00 and gave the company a "hold" rating in a research report on Friday, February 13th. Finally, BNP Paribas Exane upped their price target on shares of Cisco Systems from $86.00 to $87.00 and gave the company an "outperform" rating in a research report on Thursday, February 12th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $89.81.

Cisco Systems Stock Up 2.1%

CSCO stock opened at $86.25 on Friday. Cisco Systems, Inc. has a 12-month low of $53.83 and a 12-month high of $88.18. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. The company has a market cap of $340.68 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 3.19 and a beta of 0.83. The company has a 50 day moving average of $79.86 and a two-hundred day moving average of $76.67.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping 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 company had revenue of $15.35 billion during the quarter, compared to the consensus estimate of $15.11 billion. During the same quarter in the prior year, the firm 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be paid a dividend of $0.42 per share. This is a positive change from Cisco Systems's previous quarterly dividend of $0.41. The ex-dividend date is Thursday, April 2nd. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. Cisco Systems's dividend payout ratio (DPR) is currently 58.95%.

Cisco Systems Company Profile

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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