Cisco Systems, Inc. $CSCO Shares Bought by W.G. Shaheen & Associates DBA Whitney & Co

Key Points

• W.G. Shaheen & Associates DBA Whitney & Co increased its stake in Cisco by 238.9% in Q4, adding 27,595 shares for a total of 39,145 shares valued at about $3.02 million.
• Multiple analysts have upgraded Cisco and raised price targets (CICC to $96, Evercore and Rosenblatt to $100, Citi to $90), leaving an average price target of $89.81 and a consensus rating of "Moderate Buy."
• Cisco beat quarterly estimates with EPS of $1.04 versus $1.02 expected and revenue of $15.35B (up 9.7% YoY), and raised its quarterly dividend to $0.42 ($1.68 annualized, a 1.9% yield).

W.G. Shaheen & Associates DBA Whitney & Co lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 238.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,145 shares of the network equipment provider's stock after acquiring an additional 27,595 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co's holdings in Cisco Systems were worth $3,015,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Marquette Asset Management LLC acquired a new position in shares of Cisco Systems in the 3rd quarter valued at $25,000. Board of the Pension Protection Fund acquired a new position in shares of Cisco Systems during the 4th quarter valued at $31,000. Cedar Mountain Advisors LLC lifted its holdings in shares of Cisco Systems by 115.7% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider's stock valued at $32,000 after acquiring an additional 251 shares in the last quarter. Holos Integrated Wealth LLC acquired a new position in shares of Cisco Systems during the 4th quarter valued at $41,000. Finally, eCIO Inc. acquired a new position in shares of Cisco Systems during the 4th quarter valued at $46,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Analysts Set New Price Targets

CSCO has been the topic of several recent research reports. CICC Research lifted their target price on shares of Cisco Systems from $84.00 to $96.00 and gave the company an "outperform" rating in a report on Friday, February 13th. Evercore upgraded shares of Cisco Systems from an "in-line" rating to an "outperform" rating and boosted their price objective for the stock from $80.00 to $100.00 in a report on Monday, January 26th. Rosenblatt Securities reiterated a "buy" rating and issued a $100.00 price objective on shares of Cisco Systems in a report on Thursday, February 12th. Citigroup boosted their price objective on shares of Cisco Systems from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, February 12th. Finally, Argus upgraded shares of Cisco Systems to a "strong-buy" rating in a report on Friday, February 13th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $89.81.

Cisco Systems Stock Up 3.1%

Shares of Cisco Systems stock opened at $89.57 on Thursday. The business's fifty day moving average price is $81.20 and its two-hundred day moving average price is $77.83. The company has a market capitalization of $353.79 billion, a P/E ratio of 31.43, a PEG ratio of 3.33 and a beta of 0.83. Cisco Systems, Inc. has a 1-year low of $56.46 and a 1-year high of $90.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share 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 analyst estimates of $15.11 billion. During the same period in the prior year, the business posted $0.94 EPS. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.4 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd were given a $0.42 dividend. This is a boost from Cisco Systems's previous quarterly dividend of $0.41. The ex-dividend date was Thursday, April 2nd. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. Cisco Systems's payout ratio is currently 58.95%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,179 shares of the company's stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $77.74, for a total value of $169,395.46. Following the transaction, the senior vice president owned 28,807 shares in the company, valued at approximately $2,239,456.18. This represents a 7.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Oliver Tuszik sold 3,132 shares of the company's 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 owned 188,613 shares in the company, valued at approximately $15,040,000.62. This represents a 1.63% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 46,431 shares of company stock worth $3,574,820. 0.01% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.