Highview Capital Management LLC DE acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,055 shares of the network equipment provider's stock, valued at approximately $1,160,000.
A number of other large investors also recently added to or reduced their stakes in the stock. Juncture Wealth Strategies LLC raised its position in Cisco Systems by 0.9% during 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 period. Northstar Advisory Group LLC raised its position in Cisco Systems by 1.6% during 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 period. Roman Butler Fullerton & Co. raised its position in Cisco Systems by 0.8% during the fourth 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 during the period. Green Alpha Advisors LLC raised its position in Cisco Systems by 1.2% during the fourth quarter. Green Alpha Advisors LLC now owns 12,349 shares of the network equipment provider's stock worth $951,000 after acquiring an additional 141 shares during the period. Finally, Benchmark Financial Wealth Advisors LLC raised its position in Cisco Systems by 1.4% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 10,449 shares of the network equipment provider's stock worth $715,000 after acquiring an additional 142 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Cisco Systems
In related news, EVP Oliver Tuszik sold 3,132 shares of the company's stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $79.74, for a total value of $249,745.68. Following the completion of the sale, the executive vice president owned 188,613 shares of the company's stock, valued at approximately $15,040,000.62. This represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 7,981 shares of the company's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $79.50, for a total transaction of $634,489.50. Following the completion of the sale, the executive vice president directly owned 187,097 shares of the company's stock, valued at $14,874,211.50. This represents a 4.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 46,431 shares of company stock valued at $3,574,820 in the last three months. 0.01% of the stock is currently owned by corporate insiders.
Cisco Systems Trading Up 1.7%
Shares of CSCO opened at $87.71 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. Cisco Systems, Inc. has a 12-month low of $53.83 and a 12-month high of $88.35. The firm has a 50-day moving average price of $79.88 and a 200 day moving average price of $76.92. The firm has a market capitalization of $346.44 billion, a P/E ratio of 30.78, a P/E/G ratio of 3.25 and a beta of 0.83.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) 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 firm had revenue of $15.35 billion during the quarter, compared to analyst estimates of $15.11 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. Cisco Systems's quarterly revenue was up 9.7% on a year-over-year basis. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.4 EPS for the current year.
Cisco Systems Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be issued a $0.42 dividend. 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 1.9%. The ex-dividend date of this dividend is Thursday, April 2nd. Cisco Systems's payout ratio is currently 58.95%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on CSCO shares. HSBC upped their price objective on shares of Cisco Systems from $74.00 to $77.00 and gave the stock a "hold" rating in a research report on Friday, February 13th. President Capital dropped their target price on shares of Cisco Systems from $90.00 to $88.00 in a report on Wednesday, December 24th. Zacks Research lowered shares of Cisco Systems from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Erste Group Bank lowered shares of Cisco Systems from a "buy" rating to a "hold" rating in a report on Wednesday, February 18th. Finally, Truist Financial began coverage on shares of Cisco Systems in a report on Tuesday, March 31st. They set a "buy" rating and a $94.00 target price for the company. Three 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $89.81.
View Our Latest Stock Analysis on CSCO
About Cisco Systems
(
Free Report)
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.
Further Reading
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