Intergy Private Wealth LLC Raises Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Intergy Private Wealth LLC raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 19.5% during the fourth quarter, HoldingsChannel reports. The firm owned 5,433 shares of the network equipment provider’s stock after buying an additional 886 shares during the quarter. Intergy Private Wealth LLC’s holdings in Cisco Systems were worth $322,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Institute for Wealth Management LLC. raised its holdings in Cisco Systems by 2.1% during the fourth quarter. Institute for Wealth Management LLC. now owns 20,268 shares of the network equipment provider’s stock worth $1,200,000 after purchasing an additional 416 shares in the last quarter. Evernest Financial Advisors LLC grew its position in shares of Cisco Systems by 2.2% in the 4th quarter. Evernest Financial Advisors LLC now owns 12,596 shares of the network equipment provider’s stock valued at $746,000 after buying an additional 270 shares during the last quarter. Sonora Investment Management Group LLC raised its stake in Cisco Systems by 3.9% during the 4th quarter. Sonora Investment Management Group LLC now owns 345,485 shares of the network equipment provider’s stock worth $20,453,000 after acquiring an additional 12,876 shares in the last quarter. Oak Harvest Investment Services boosted its stake in Cisco Systems by 22.3% in the fourth quarter. Oak Harvest Investment Services now owns 153,238 shares of the network equipment provider’s stock valued at $9,072,000 after acquiring an additional 27,893 shares in the last quarter. Finally, Cibc World Market Inc. grew its holdings in shares of Cisco Systems by 12.9% during the fourth quarter. Cibc World Market Inc. now owns 1,060,307 shares of the network equipment provider’s stock worth $62,770,000 after purchasing an additional 121,010 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the sale, the executive vice president now owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 over the last ninety days. 0.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Bank of America boosted their target price on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Citigroup raised their target price on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Piper Sandler raised their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.72.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $60.47 on Friday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $62.31. The firm has a market capitalization of $240.84 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 4.43 and a beta of 0.84. The business’s 50 day simple moving average is $59.34 and its 200-day simple moving average is $54.35. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Cisco Systems’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. As a group, equities analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.65%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Cisco Systems Company 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.