Cisco Systems, Inc. (NASDAQ:CSCO) Stock Position Increased by Naviter Wealth LLC

Naviter Wealth LLC lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 24.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 34,272 shares of the network equipment provider’s stock after buying an additional 6,795 shares during the quarter. Naviter Wealth LLC’s holdings in Cisco Systems were worth $1,731,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Cisco Systems during the third quarter worth $27,000. Valued Wealth Advisors LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth $32,000. Morton Brown Family Wealth LLC raised its position in shares of Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the period. Bourgeon Capital Management LLC raised its position in shares of Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares during the period. Finally, Rakuten Securities Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter worth $43,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO stock traded down $0.02 during trading hours on Monday, hitting $47.84. The company had a trading volume of 5,156,797 shares, compared to its average volume of 19,174,559. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. The firm has a market capitalization of $193.71 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 2.76 and a beta of 0.87. The firm’s fifty day moving average is $48.94 and its 200 day moving average is $50.01. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The business had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. Cisco Systems’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.76 EPS. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.34%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is 48.63%.

Analyst Upgrades and Downgrades

CSCO has been the topic of a number of research analyst reports. Melius downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. JPMorgan Chase & Co. assumed coverage on Cisco Systems in a report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Piper Sandler boosted their target price on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Finally, 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. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Cisco Systems has an average rating of “Hold” and a consensus price target of $55.53.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated 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 sale, 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. In the last quarter, insiders have sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is owned by company insiders.

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.