Apollon Wealth Management LLC Boosts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Apollon Wealth Management LLC raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 152,605 shares of the network equipment provider’s stock after buying an additional 9,518 shares during the quarter. Apollon Wealth Management LLC’s holdings in Cisco Systems were worth $9,034,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CSCO. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its position in Cisco Systems by 5.0% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 5,382 shares of the network equipment provider’s stock valued at $286,000 after purchasing an additional 258 shares during the last quarter. Quotient Wealth Partners LLC lifted its stake in shares of Cisco Systems by 9.1% in the third quarter. Quotient Wealth Partners LLC now owns 8,391 shares of the network equipment provider’s stock worth $447,000 after buying an additional 698 shares in the last quarter. LifePro Asset Management purchased a new stake in shares of Cisco Systems during the third quarter valued at approximately $539,000. Watts Gwilliam & Co. LLC bought a new stake in shares of Cisco Systems during the third quarter valued at approximately $1,041,000. Finally, Albion Financial Group UT lifted its position in Cisco Systems by 1.1% in the 3rd quarter. Albion Financial Group UT now owns 158,383 shares of the network equipment provider’s stock valued at $8,429,000 after acquiring an additional 1,682 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, Director Kristina M. Johnson sold 7,500 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $59.87, for a total transaction of $449,025.00. Following the completion of the transaction, the director now directly owns 65,915 shares of the company’s stock, valued at approximately $3,946,331.05. This represents a 10.22 % decrease in their position. The transaction 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 on 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 over the last quarter. 0.01% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CSCO has been the topic of a number of recent analyst reports. Tigress Financial raised their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. raised 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 note on Monday, November 11th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. 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 report on Friday, January 17th. Finally, Piper Sandler upped their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.72.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $62.27 on Friday. 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, Inc. has a 1-year low of $44.50 and a 1-year high of $63.25. The company has a market cap of $248.01 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 4.51 and a beta of 0.84. The stock’s 50 day simple moving average is $59.65 and its 200-day simple moving average is $54.87.

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

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.57%. Cisco Systems’s dividend 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.