Bouchey Financial Group Ltd Raises Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Bouchey Financial Group Ltd grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 19.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,274 shares of the network equipment provider’s stock after purchasing an additional 1,000 shares during the period. Bouchey Financial Group Ltd’s holdings in Cisco Systems were worth $317,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CSCO. Moneta Group Investment Advisors LLC lifted its holdings in shares of Cisco Systems by 112,307.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock valued at $2,835,509,000 after purchasing an additional 59,466,550 shares during the last quarter. Norges Bank purchased a new stake in shares of Cisco Systems during the 4th quarter valued at $2,028,781,000. Morgan Stanley lifted its holdings in shares of Cisco Systems by 17.4% during the 4th quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock valued at $2,943,593,000 after purchasing an additional 9,160,347 shares during the last quarter. Barclays PLC lifted its holdings in shares of Cisco Systems by 83.6% during the 2nd quarter. Barclays PLC now owns 14,544,909 shares of the network equipment provider’s stock valued at $752,554,000 after purchasing an additional 6,621,125 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Cisco Systems by 1.7% in the 2nd quarter. BlackRock Inc. now owns 347,569,395 shares of the network equipment provider’s stock worth $17,983,240,000 after acquiring an additional 5,924,553 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity

In other news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the sale, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the transaction, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock worth $972,080 over the last ninety days. Corporate insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CSCO shares. Melius Research restated a “hold” rating and issued a $55.00 target price on shares of Cisco Systems in a research note on Monday, January 8th. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Wells Fargo & Company started coverage on Cisco Systems in a research note on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 target price for the company. Melius lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Piper Sandler lifted their price objective on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $56.42.

Cisco Systems Price Performance

NASDAQ:CSCO traded down $0.03 during trading hours on Wednesday, hitting $49.52. 6,855,074 shares of the stock were exchanged, compared to its average volume of 19,783,436. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The firm’s fifty day moving average price is $49.80 and its 200 day moving average price is $50.99. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The company has a market cap of $200.52 billion, a P/E ratio of 15.06, a P/E/G ratio of 2.25 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The company had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. During the same period in the previous year, the business earned $0.76 EPS. Cisco Systems’s quarterly revenue was down 5.9% on a year-over-year basis. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 3.16 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be paid a dividend of $0.40 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 3.23%. The ex-dividend date is Wednesday, April 3rd. Cisco Systems’s payout ratio is 47.42%.

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.