Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 31,744 shares of the network equipment provider’s stock after purchasing an additional 178 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Cisco Systems were worth $1,879,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC grew its stake in Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after buying an additional 5,885,879 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Cisco Systems by 327.5% during the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after acquiring an additional 5,223,800 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in Cisco Systems by 5,231.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock worth $262,646,000 after purchasing an additional 4,842,542 shares during the period. National Bank of Canada FI increased its holdings in Cisco Systems by 79.6% in the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock valued at $477,463,000 after purchasing an additional 3,975,028 shares in the last quarter. Finally, State Street Corp increased its holdings in Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after purchasing an additional 3,241,682 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the subject of several analyst reports. Evercore ISI upped their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Tigress Financial upped their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Piper Sandler boosted their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price target for the company from $55.00 to $66.00 in a report on Monday, November 11th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.28.

Cisco Systems Trading Up 1.0 %

Shares of NASDAQ CSCO opened at $59.33 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $58.79 and its two-hundred day moving average price is $53.34. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $60.23. The stock has a market capitalization of $236.30 billion, a P/E ratio of 25.46, a PEG ratio of 4.37 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the business posted $0.98 earnings per share. On average, analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio is presently 68.67%.

Insider Buying and Selling

In related news, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the transaction, the chief financial officer now owns 365,314 shares in the company, valued at $21,001,901.86. The trade was a 19.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock worth $20,349,721 over the last quarter. 0.01% of the stock is owned by company insiders.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.