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

Axxcess Wealth Management LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 134,839 shares of the network equipment provider’s stock after acquiring an additional 10,136 shares during the period. Axxcess Wealth Management LLC’s holdings in Cisco Systems were worth $6,812,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Valued Wealth Advisors LLC purchased a new position in shares of Cisco Systems during the fourth quarter worth approximately $32,000. DiNuzzo Private Wealth Inc. purchased a new position in Cisco Systems in the 4th quarter valued at $33,000. Morton Brown Family Wealth LLC grew its position in Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 208 shares during the last quarter. Bourgeon Capital Management LLC grew its position in Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 700 shares during the last quarter. Finally, Rakuten Securities Inc. purchased a new position in Cisco Systems in the 4th quarter valued at $43,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSCO has been the topic of a number of analyst reports. Morgan Stanley initiated coverage on shares of Cisco Systems in a research report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective on the stock. UBS Group raised their target price on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price objective on the stock. Finally, Piper Sandler lifted their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Cisco Systems presently has a consensus rating of “Hold” and an average price target of $55.53.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at approximately $2,906,050. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock valued at $972,080 over the last quarter. Company insiders own 0.02% of the company’s stock.

Cisco Systems Trading Up 0.7 %

CSCO traded up $0.33 during midday trading on Friday, hitting $47.12. The company’s stock had a trading volume of 17,935,302 shares, compared to its average volume of 17,219,910. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The firm has a 50-day moving average price of $48.79 and a two-hundred day moving average price of $49.83. 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 firm has a market cap of $190.80 billion, a P/E ratio of 14.32, a PEG ratio of 2.70 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The firm had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. Cisco Systems’s revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 earnings per share. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.13 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.40%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio (DPR) is currently 48.63%.

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.