NewEdge Wealth LLC Purchases 36,556 Shares of Cisco Systems, Inc. $CSCO

Key Points

• NewEdge Wealth LLC increased its Cisco stake by 27.1% in the fourth quarter, buying 36,556 additional shares and bringing its total holdings to 171,323 shares worth about $13.2 million.
• Analysts remain generally constructive on Cisco, with a consensus rating of Moderate Buy and an average price target of $90.29, even though a few firms recently trimmed their ratings.
• Cisco reported solid quarterly results and raised its dividend to $0.42 per share, while the stock was also trading near its 52-week high and up 4.8% in the latest session.

NewEdge Wealth LLC raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 27.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 171,323 shares of the network equipment provider's stock after buying an additional 36,556 shares during the quarter. NewEdge Wealth LLC's holdings in Cisco Systems were worth $13,197,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Triton Financial Group Inc grew its position in shares of Cisco Systems by 2.2% in the 4th quarter. Triton Financial Group Inc now owns 38,394 shares of the network equipment provider's stock worth $2,957,000 after buying an additional 827 shares during the last quarter. Brandywine Oak Private Wealth LLC lifted its position in Cisco Systems by 2.0% during the fourth quarter. Brandywine Oak Private Wealth LLC now owns 13,061 shares of the network equipment provider's stock valued at $1,006,000 after acquiring an additional 257 shares during the last quarter. RB Capital Management LLC boosted its stake in Cisco Systems by 3.9% in the fourth quarter. RB Capital Management LLC now owns 8,968 shares of the network equipment provider's stock valued at $691,000 after acquiring an additional 334 shares in the last quarter. Legacy Wealth Managment LLC ID boosted its stake in Cisco Systems by 139.7% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 664 shares of the network equipment provider's stock valued at $51,000 after acquiring an additional 387 shares in the last quarter. Finally, Chesapeake Capital Corp IL grew its holdings in Cisco Systems by 3.6% in the fourth quarter. Chesapeake Capital Corp IL now owns 6,051 shares of the network equipment provider's stock worth $466,000 after purchasing an additional 208 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CSCO shares. Argus raised Cisco Systems to a "strong-buy" rating in a research report on Friday, February 13th. Citigroup boosted their target price on Cisco Systems from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, February 12th. CICC Research upped 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. Zacks Research cut Cisco Systems from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 13th. Finally, Wall Street Zen downgraded Cisco Systems from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $90.29.

Cisco Systems Trading Up 4.8%

NASDAQ:CSCO opened at $96.57 on Friday. The company has a market capitalization of $381.44 billion, a P/E ratio of 33.88, a PEG ratio of 3.62 and a beta of 0.92. 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 $59.44 and a 12 month high of $97.02. The firm has a fifty day simple moving average of $82.32 and a 200-day simple moving average of $78.56.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its 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. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The company had revenue of $15.35 billion during the quarter, compared to analyst estimates of $15.11 billion. During the same quarter last year, the business posted $0.94 EPS. The firm's quarterly revenue was up 9.7% on a year-over-year basis. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.42 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd were paid a $0.42 dividend. The ex-dividend date was Thursday, April 2nd. This is a positive change from Cisco Systems's previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 1.7%. Cisco Systems's dividend payout ratio (DPR) is 58.95%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,179 shares of Cisco Systems stock in a transaction that occurred on Tuesday, February 24th. The shares were 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 directly owned 28,807 shares in the company, valued at approximately $2,239,456.18. The trade was a 7.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Charles Robbins sold 19,545 shares of the company's stock in a transaction on Friday, February 13th. The shares were sold at an average price of $76.00, for a total transaction of $1,485,420.00. Following the completion of the sale, the chief executive officer directly owned 671,095 shares in the company, valued at $51,003,220. This trade represents a 2.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 46,431 shares of company stock valued at $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.