Nemes Rush Group LLC Increases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Nemes Rush Group LLC increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,781 shares of the network equipment provider’s stock after buying an additional 14,626 shares during the period. Cisco Systems accounts for 1.8% of Nemes Rush Group LLC’s portfolio, making the stock its 15th largest position. Nemes Rush Group LLC’s holdings in Cisco Systems were worth $14,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Meridian Investment Counsel Inc. lifted its stake in shares of Cisco Systems by 2.8% in the 4th quarter. Meridian Investment Counsel Inc. now owns 25,700 shares of the network equipment provider’s stock valued at $1,521,000 after purchasing an additional 700 shares during the period. Seven Mile Advisory lifted its position in Cisco Systems by 5.2% during the fourth quarter. Seven Mile Advisory now owns 6,939 shares of the network equipment provider’s stock valued at $411,000 after buying an additional 345 shares during the period. Summit Financial LLC boosted its holdings in shares of Cisco Systems by 55.0% during the 4th quarter. Summit Financial LLC now owns 82,275 shares of the network equipment provider’s stock valued at $4,871,000 after buying an additional 29,187 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Cisco Systems by 50.3% in the 4th quarter. Alliancebernstein L.P. now owns 6,627,956 shares of the network equipment provider’s stock worth $392,375,000 after buying an additional 2,219,311 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Cisco Systems by 22.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 595,010 shares of the network equipment provider’s stock worth $35,225,000 after acquiring an additional 109,526 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cisco Systems news, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the transaction, the chief financial officer now owns 335,605 shares of the company’s stock, valued at $21,616,318.05. The trade was a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,547 shares of company stock valued at $4,275,553. 0.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CSCO. The Goldman Sachs Group raised their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. UBS Group increased their target price on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Piper Sandler reaffirmed a “neutral” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.63.

Cisco Systems Stock Up 1.4 %

CSCO stock opened at $61.71 on Tuesday. The company has a market cap of $245.50 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 4.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The business’s 50-day moving average is $62.14 and its two-hundred day moving average is $58.69. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its board has approved a share buyback plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.66%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is 71.62%.

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.