Crossmark Global Holdings Inc. Raises Position in Cisco Systems, Inc. $CSCO

Key Points

• Crossmark Global Holdings increased its Cisco stake by 4.3% in the fourth quarter, buying 34,470 more shares and bringing its total holding to 843,066 shares worth about $64.9 million.
• Cisco reported better-than-expected quarterly results, with EPS of $1.04 versus estimates of $1.02 and revenue of $15.35 billion versus $15.11 billion expected. Revenue rose 9.7% year over year.
• The company also raised its quarterly dividend to $0.42 per share from $0.41, while analyst sentiment remains generally positive with a consensus Moderate Buy rating and a target price of $90.29.

Crossmark Global Holdings Inc. lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 843,066 shares of the network equipment provider's stock after acquiring an additional 34,470 shares during the quarter. Cisco Systems accounts for about 0.9% of Crossmark Global Holdings Inc.'s portfolio, making the stock its 15th largest position. Crossmark Global Holdings Inc.'s holdings in Cisco Systems were worth $64,941,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cairn Investment Group Inc. grew its position in shares of Cisco Systems by 0.5% during the fourth quarter. Cairn Investment Group Inc. now owns 24,146 shares of the network equipment provider's stock worth $1,860,000 after buying an additional 130 shares in the last quarter. Juncture Wealth Strategies LLC lifted its stake in Cisco Systems by 0.9% in the fourth quarter. Juncture Wealth Strategies LLC now owns 15,042 shares of the network equipment provider's stock worth $1,159,000 after acquiring an additional 132 shares during the last quarter. Northstar Advisory Group LLC lifted its stake in Cisco Systems by 1.6% in the fourth quarter. Northstar Advisory Group LLC now owns 8,203 shares of the network equipment provider's stock worth $632,000 after acquiring an additional 133 shares during the last quarter. Roman Butler Fullerton & Co. grew its holdings in Cisco Systems by 0.8% during the 4th quarter. Roman Butler Fullerton & Co. now owns 15,917 shares of the network equipment provider's stock worth $1,183,000 after acquiring an additional 133 shares in the last quarter. Finally, MMA Asset Management LLC grew its holdings in Cisco Systems by 2.3% during the 4th quarter. MMA Asset Management LLC now owns 6,167 shares of the network equipment provider's stock worth $475,000 after acquiring an additional 139 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $96.57 on Friday. Cisco Systems, Inc. has a one year low of $59.44 and a one year high of $97.02. The stock has a market capitalization of $381.44 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 3.46 and a beta of 0.92. The company has a 50-day simple moving average of $82.32 and a 200-day simple moving average of $78.56. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. The firm had revenue of $15.35 billion for the quarter, compared to analyst estimates of $15.11 billion. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The business's revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company posted $0.94 earnings per share. On average, analysts predict that Cisco Systems, Inc. will post 3.42 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd were issued a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This is an increase from Cisco Systems's previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.7%. Cisco Systems's dividend payout ratio is presently 58.95%.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of analyst reports. DZ Bank upgraded shares of Cisco Systems to a "strong-buy" rating in a report on Friday, February 13th. Citigroup boosted their target price on shares of Cisco Systems from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, February 12th. Argus raised Cisco Systems to a "strong-buy" rating in a report on Friday, February 13th. Zacks Research downgraded Cisco Systems from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Finally, HSBC upped their price objective on Cisco Systems from $74.00 to $77.00 and gave the stock a "hold" rating in a research report on Friday, February 13th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $90.29.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 2,179 shares of the company's stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $77.74, for a total transaction of $169,395.46. Following the completion of the sale, the senior vice president owned 28,807 shares in the company, valued at $2,239,456.18. This represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Oliver Tuszik sold 3,132 shares of Cisco Systems 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 completion of the transaction, the executive vice president owned 188,613 shares in the company, valued at approximately $15,040,000.62. This trade represents a 1.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 46,431 shares of company stock valued at $3,574,820. 0.01% of the stock is owned by company insiders.

Cisco Systems News Summary

Here are the key news stories impacting Cisco Systems this week:

• Positive Sentiment: Cisco is drawing heavier investor attention ahead of earnings, which can support trading volume and sentiment as traders position for a potential report-driven move. Cisco Systems, Inc. (CSCO) Is a Trending Stock: Facts to Know Before Betting on It
• Positive Sentiment: Analysts are continuing to frame Cisco’s investment case around its next quarterly results, with some views slightly improving fair value estimates, suggesting lingering confidence in the company’s fundamentals. How The Cisco Systems (CSCO) Investment Story Is Shifting As Analyst Views Diverge
• Neutral Sentiment: Cisco is set to participate in multiple upcoming financial-community events in May and June, which keeps management visible to investors but does not directly change the fundamentals. Cisco to Participate in May & June Events with the Financial Community
• Neutral Sentiment: Wall Street estimates for Cisco’s upcoming quarter are being closely dissected, but this is mainly an expectations check ahead of earnings rather than a new business catalyst. Unlocking Q3 Potential of Cisco (CSCO): Exploring Wall Street Estimates for Key Metrics
• Negative Sentiment: Recent coverage noted Cisco shares underperformed the broader market and dropped in the latest session, showing some near-term pressure before the company’s next earnings catalyst. Cisco Systems (CSCO) Stock Drops Despite Market Gains: Important Facts to Note

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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