Summit Trail Advisors LLC Boosts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Summit Trail Advisors LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 61,261 shares of the network equipment provider’s stock after acquiring an additional 3,857 shares during the period. Summit Trail Advisors LLC’s holdings in Cisco Systems were worth $3,095,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CSCO. Waddell & Associates LLC boosted its stake in Cisco Systems by 0.8% during the 3rd quarter. Waddell & Associates LLC now owns 24,693 shares of the network equipment provider’s stock valued at $1,328,000 after purchasing an additional 191 shares during the last quarter. Sax Wealth Advisors LLC raised its holdings in Cisco Systems by 3.6% during the third quarter. Sax Wealth Advisors LLC now owns 5,686 shares of the network equipment provider’s stock valued at $306,000 after acquiring an additional 196 shares during the period. Winch Advisory Services LLC raised its holdings in Cisco Systems by 19.3% during the third quarter. Winch Advisory Services LLC now owns 1,232 shares of the network equipment provider’s stock valued at $66,000 after acquiring an additional 199 shares during the period. Gill Capital Partners LLC raised its holdings in Cisco Systems by 5.2% during the third quarter. Gill Capital Partners LLC now owns 4,155 shares of the network equipment provider’s stock valued at $223,000 after acquiring an additional 207 shares during the period. Finally, Madrona Financial Services LLC raised its holdings in Cisco Systems by 2.4% during the fourth quarter. Madrona Financial Services LLC now owns 8,970 shares of the network equipment provider’s stock valued at $453,000 after acquiring an additional 207 shares during the period. 73.33% of the stock is owned by institutional investors.

Cisco Systems Price Performance

CSCO stock traded up $0.16 during mid-day trading on Tuesday, reaching $47.27. The company’s stock had a trading volume of 2,446,766 shares, compared to its average volume of 18,928,098. The stock has a market cap of $191.41 billion, a PE ratio of 14.40, a P/E/G ratio of 2.72 and a beta of 0.87. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. Cisco Systems, Inc. has a fifty-two week low of $45.70 and a fifty-two week high of $58.19. The company’s 50 day moving average is $48.77 and its two-hundred day moving average is $49.73.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The business 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%. The business’s revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 EPS. Equities research analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.38%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 48.63%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CSCO. Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $55.00 to $60.00 in a report on Monday, April 15th. Citigroup started coverage on Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. 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 report on Wednesday, March 20th. Melius Research reiterated a “hold” rating and issued a $55.00 price target on shares of Cisco Systems in a report on Monday, January 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $55.53.

Insider Activity

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 sale, the senior vice president now directly owns 58,121 shares in the company, valued at approximately $2,906,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems 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 directly owns 58,121 shares in the company, valued at $2,906,050. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction 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 approximately $16,424,550. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Company 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.