Opal Wealth Advisors LLC increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,775 shares of the network equipment provider’s stock after purchasing an additional 783 shares during the period. Opal Wealth Advisors LLC’s holdings in Cisco Systems were worth $697,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Octavia Wealth Advisors LLC increased its holdings in shares of Cisco Systems by 4.8% during the 3rd quarter. Octavia Wealth Advisors LLC now owns 5,340 shares of the network equipment provider’s stock worth $284,000 after purchasing an additional 244 shares during the period. Perfromance Wealth Partners LLC acquired a new stake in Cisco Systems during the third quarter worth about $233,000. Montis Financial LLC raised its holdings in Cisco Systems by 25.1% in the 3rd quarter. Montis Financial LLC now owns 6,755 shares of the network equipment provider’s stock valued at $360,000 after acquiring an additional 1,355 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Cisco Systems by 57.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,126 shares of the network equipment provider’s stock worth $273,000 after acquiring an additional 1,876 shares during the period. Finally, CHICAGO TRUST Co NA grew its holdings in shares of Cisco Systems by 5.6% during the 3rd quarter. CHICAGO TRUST Co NA now owns 36,489 shares of the network equipment provider’s stock worth $1,942,000 after purchasing an additional 1,919 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on CSCO shares. Wells Fargo & Company increased their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Piper Sandler raised their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Citigroup upped their price objective on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Morgan Stanley raised their target price on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, UBS Group increased their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Seven investment 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.72.
Insider Buying and Selling at Cisco Systems
In related news, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the transaction, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $59.19, for a total transaction of $180,055.98. Following the completion of the transaction, the executive vice president now owns 207,798 shares in the company, valued at approximately $12,299,563.62. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 353,522 shares of company stock worth $20,349,721. Insiders own 0.01% of the company’s stock.
Cisco Systems Price Performance
Shares of NASDAQ:CSCO opened at $62.27 on Monday. The business’s 50-day moving average is $59.71 and its 200-day moving average is $55.04. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $63.25. The company has a market capitalization of $248.01 billion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 4.63 and a beta of 0.84. 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 – Get Free Report) last posted its quarterly 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 firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 earnings per share. Equities research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.
Cisco Systems Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were given a $0.40 dividend. The ex-dividend date was Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.57%. Cisco Systems’s payout ratio is 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.
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