Cibc World Market Inc. Increases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Cibc World Market Inc. boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,060,307 shares of the network equipment provider’s stock after buying an additional 121,010 shares during the period. Cibc World Market Inc.’s holdings in Cisco Systems were worth $62,770,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cyr Financial Inc. bought a new position in Cisco Systems during the 4th quarter worth approximately $627,000. Mediolanum International Funds Ltd grew its stake in shares of Cisco Systems by 41.7% in the fourth quarter. Mediolanum International Funds Ltd now owns 916,477 shares of the network equipment provider’s stock worth $54,113,000 after purchasing an additional 269,647 shares in the last quarter. Crews Bank & Trust acquired a new stake in shares of Cisco Systems in the 4th quarter worth approximately $1,483,000. Lewis Asset Management LLC boosted its stake in Cisco Systems by 24.4% during the 4th quarter. Lewis Asset Management LLC now owns 7,973 shares of the network equipment provider’s stock valued at $472,000 after purchasing an additional 1,565 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC lifted its holdings in Cisco Systems by 11.0% in the 4th quarter. Murphy Pohlad Asset Management LLC now owns 64,348 shares of the network equipment provider’s stock valued at $3,809,000 after acquiring an additional 6,400 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Piper Sandler upped their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Citigroup lifted their target price on shares of 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 increased their price target on Cisco Systems from $62.00 to $68.00 and gave the company 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, BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective for the company in a research report on Tuesday. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.72.

Insider Transactions at Cisco Systems

In other news, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the sale, the chief financial officer now owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. This represents a 19.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 in the last 90 days. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $60.47 on Friday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $62.31. The company has a market capitalization of $240.84 billion, a P/E ratio of 25.95, a PEG ratio of 4.43 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock has a 50 day moving average price of $59.34 and a two-hundred day moving average price of $54.35.

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, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion during 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 quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 earnings per share. Analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were given a dividend of $0.40 per share. 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 payout ratio is currently 68.67%.

About Cisco Systems

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.