Narwhal Capital Management increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 23.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,140 shares of the network equipment provider's stock after purchasing an additional 39,120 shares during the quarter. Cisco Systems makes up about 1.1% of Narwhal Capital Management's portfolio, making the stock its 21st largest holding. Narwhal Capital Management's holdings in Cisco Systems were worth $15,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in Cisco Systems by 6.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,189,645 shares of the network equipment provider's stock valued at $218,236,000 after buying an additional 205,043 shares during the period. Greystone Financial Group LLC bought a new position in shares of Cisco Systems during the 3rd quarter worth approximately $8,563,000. Jones Financial Companies Lllp grew its position in shares of Cisco Systems by 8.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 686,469 shares of the network equipment provider's stock worth $46,165,000 after buying an additional 56,057 shares during the period. Rockland Trust Co. increased its stake in shares of Cisco Systems by 213.8% in the 3rd quarter. Rockland Trust Co. now owns 20,497 shares of the network equipment provider's stock valued at $1,402,000 after acquiring an additional 13,966 shares in the last quarter. Finally, CX Institutional increased its stake in shares of Cisco Systems by 11.0% in the 3rd quarter. CX Institutional now owns 144,336 shares of the network equipment provider's stock valued at $9,875,000 after acquiring an additional 14,334 shares in the last quarter. Institutional investors own 73.33% of the company's stock.
Cisco Systems Stock Performance
Shares of CSCO stock opened at $86.92 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. The firm has a fifty day simple moving average of $80.98 and a two-hundred day simple moving average of $77.75. Cisco Systems, Inc. has a 12 month low of $56.46 and a 12 month high of $90.45. The firm has a market capitalization of $343.30 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 3.33 and a beta of 0.83.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $15.35 billion for the quarter, compared to analyst estimates of $15.11 billion. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The business's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $0.94 earnings per share. Analysts forecast that Cisco Systems, Inc. will post 3.4 EPS for the current fiscal year.
Cisco Systems Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd were paid a dividend of $0.42 per share. This is an increase from Cisco Systems's previous quarterly dividend of $0.41. The ex-dividend date was Thursday, April 2nd. This represents a $1.68 dividend on an annualized basis and a yield of 1.9%. Cisco Systems's dividend payout ratio (DPR) is presently 58.95%.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on CSCO shares. Erste Group Bank lowered shares of Cisco Systems from a "buy" rating to a "hold" rating in a research note on Wednesday, February 18th. Argus raised shares of Cisco Systems to a "strong-buy" rating in a research note on Friday, February 13th. Zacks Research cut shares of Cisco Systems from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. UBS Group raised their target price on Cisco Systems from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, February 12th. Finally, CICC Research boosted their target price on Cisco Systems from $84.00 to $96.00 and gave the company an "outperform" rating in a research report on Friday, February 13th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $89.81.
Read Our Latest Research Report on Cisco Systems
Key Cisco Systems News
Here are the key news stories impacting Cisco Systems this week:
Insider Buying and Selling at Cisco Systems
In other news, insider Jeetendra I. Patel sold 11,248 shares of the firm's stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $76.00, for a total value of $854,848.00. Following the transaction, the insider owned 262,776 shares in the company, valued at $19,970,976. This trade represents a 4.10% 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 hyperlink. Also, EVP Oliver Tuszik sold 3,132 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $79.74, for a total value of $249,745.68. Following the transaction, the executive vice president directly owned 188,613 shares in the company, valued at approximately $15,040,000.62. The trade was a 1.63% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 46,431 shares of company stock worth $3,574,820. 0.01% of the stock is currently owned by corporate 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.
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