3,774 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Bought by Cherrydale Wealth Management LLC

Cherrydale Wealth Management LLC purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,774 shares of the network equipment provider’s stock, valued at approximately $223,000.

Other institutional investors have also modified their holdings of the company. West Financial Advisors LLC grew its stake in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares during the last quarter. Highline Wealth Partners LLC raised its holdings in Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares in the last quarter. Quarry LP grew its holdings in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in Cisco Systems during the third quarter valued at approximately $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Cisco Systems during the 4th quarter worth $49,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the sale, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the sale, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at $12,203,506.38. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock worth $20,349,721 over the last three months. Company insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CSCO shares. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price target for the company from $55.00 to $66.00 in a research report on Monday, November 11th. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Morgan Stanley boosted their target price on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company increased their target price on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Eight equities research 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. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $61.50.

Cisco Systems Stock Performance

Shares of CSCO traded up $0.41 during trading hours on Friday, hitting $60.23. The company’s stock had a trading volume of 23,800,968 shares, compared to its average volume of 17,184,370. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $60.95. The business has a 50 day simple moving average of $58.87 and a two-hundred day simple moving average of $53.43. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The company has a market cap of $239.88 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 4.37 and a beta of 0.84.

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

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders 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 yield of 2.66%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.

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.