Howard Capital Management Inc. increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 11.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 147,518 shares of the network equipment provider's stock after purchasing an additional 14,835 shares during the quarter. Howard Capital Management Inc.'s holdings in Cisco Systems were worth $11,363,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marquette Asset Management LLC acquired a new stake in Cisco Systems in the 3rd quarter worth approximately $25,000. Lowe Wealth Advisors LLC lifted its holdings in shares of Cisco Systems by 96.2% during the third quarter. Lowe Wealth Advisors LLC now owns 408 shares of the network equipment provider's stock worth $28,000 after buying an additional 200 shares during the last quarter. Board of the Pension Protection Fund acquired a new position in shares of Cisco Systems during the fourth quarter worth approximately $31,000. Cedar Mountain Advisors LLC lifted its holdings in shares of Cisco Systems by 115.7% during the third quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider's stock worth $32,000 after buying an additional 251 shares during the last quarter. Finally, Holos Integrated Wealth LLC acquired a new position in shares of Cisco Systems during the fourth quarter worth approximately $41,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems Stock Performance
Shares of NASDAQ:CSCO opened at $82.22 on Friday. The business's fifty day moving average price is $79.74 and its two-hundred day moving average price is $76.11. Cisco Systems, Inc. has a fifty-two week low of $53.83 and a fifty-two week high of $88.18. The stock has a market capitalization of $324.76 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 3.14 and a beta of 0.83. 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 announced its quarterly earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.02. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The firm had revenue of $15.35 billion for the quarter, compared to analysts' expectations of $15.11 billion. During the same period in the prior year, the business posted $0.94 earnings per share. The business's revenue was up 9.7% compared to the same quarter last year. As a group, analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.0%. This is a positive change from Cisco Systems's previous quarterly dividend of $0.41. The ex-dividend date is Thursday, April 2nd. Cisco Systems's dividend payout ratio (DPR) is currently 58.95%.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on CSCO. President Capital cut their price target on Cisco Systems from $90.00 to $88.00 in a report on Wednesday, December 24th. Truist Financial began coverage on Cisco Systems in a report on Tuesday, March 31st. They set a "buy" rating and a $94.00 price target for the company. Zacks Research upgraded Cisco Systems from a "hold" rating to a "strong-buy" rating in a report on Monday, January 26th. Morgan Stanley upped their price target on Cisco Systems from $82.00 to $91.00 and gave the stock an "overweight" rating in a report on Wednesday, December 17th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $100.00 price target on shares of Cisco Systems in a report on Thursday, February 12th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus target price of $89.76.
Read Our Latest Analysis on Cisco Systems
Insider Transactions at Cisco Systems
In other Cisco Systems news, SVP Maria Victoria Wong sold 551 shares of the company's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $77.54, for a total value of $42,724.54. Following the sale, the senior vice president directly owned 27,957 shares in the company, valued at $2,167,785.78. This represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,744 shares of the company's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $77.07, for a total value of $134,410.08. Following the completion of the sale, the executive vice president owned 156,693 shares in the company, valued at $12,076,329.51. This trade represents a 1.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 46,431 shares of company stock valued at $3,574,820. 0.01% of the stock is owned by insiders.
Cisco Systems Profile
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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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