Sheets Smith Wealth Management Has $749,000 Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Sheets Smith Wealth Management lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,818 shares of the network equipment provider’s stock after selling 1,727 shares during the period. Sheets Smith Wealth Management’s holdings in Cisco Systems were worth $749,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC boosted its stake in shares of Cisco Systems by 48.1% during the 3rd quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock worth $3,838,000 after acquiring an additional 23,194 shares in the last quarter. Roble Belko & Company Inc lifted its stake in shares of Cisco Systems by 77.1% in the fourth quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock worth $324,000 after buying an additional 2,788 shares during the last quarter. HBK Sorce Advisory LLC boosted its holdings in shares of Cisco Systems by 0.5% during the 3rd quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock worth $3,448,000 after buying an additional 301 shares during the period. Louisiana State Employees Retirement System bought a new position in Cisco Systems in the 4th quarter worth $28,685,000. Finally, Adage Capital Partners GP L.L.C. raised its holdings in Cisco Systems by 1.1% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock worth $240,335,000 after acquiring an additional 49,700 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction 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 transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The disclosure for this sale can be found here. Insiders sold a total of 19,441 shares of company stock worth $972,080 over the last three months. 0.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their price target on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $60.00 in a research note on Monday, April 15th. Barclays increased their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Piper Sandler boosted their price objective on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Finally, Melius Research reiterated a “hold” rating and issued a $55.00 target price on shares of Cisco Systems in a research note on Monday, January 8th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $55.53.

Cisco Systems Price Performance

Cisco Systems stock traded down $0.04 on Monday, reaching $47.08. The company’s stock had a trading volume of 6,771,798 shares, compared to its average volume of 19,030,568. The business’s fifty day moving average price is $48.79 and its 200 day moving average price is $49.77. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The company has a market cap of $190.64 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 2.72 and a beta of 0.87. Cisco Systems, Inc. has a twelve month low of $45.70 and a twelve month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.03. The business had revenue of $12.79 billion for 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%. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. Equities analysts expect that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Wednesday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is 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.