Centric Wealth Management Raises Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Centric Wealth Management grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,514 shares of the network equipment provider’s stock after purchasing an additional 3,119 shares during the quarter. Centric Wealth Management’s holdings in Cisco Systems were worth $1,907,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Cisco Systems by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after buying an additional 6,345,954 shares during the period. FMR LLC boosted its stake in shares of Cisco Systems by 3.2% during the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock worth $3,069,815,000 after buying an additional 1,790,717 shares during the period. Northern Trust Corp boosted its stake in shares of Cisco Systems by 3.8% during the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock worth $2,717,537,000 after buying an additional 1,847,682 shares during the period. Invesco Ltd. boosted its stake in shares of Cisco Systems by 3.7% during the third quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock worth $1,802,909,000 after buying an additional 1,181,327 shares during the period. Finally, California Public Employees Retirement System lifted its position in Cisco Systems by 25.0% in the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock valued at $947,262,000 after purchasing an additional 3,753,165 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Up 1.6 %

CSCO traded up $0.75 during trading on Wednesday, hitting $48.03. The company’s stock had a trading volume of 8,732,840 shares, compared to its average volume of 18,942,313. The firm’s 50 day moving average price is $48.75 and its 200-day moving average price is $49.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The stock has a market cap of $194.48 billion, a PE ratio of 14.37, 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 for the quarter, beating the consensus estimate of $0.84 by $0.03. The company had revenue of $12.79 billion during the quarter, compared to the consensus estimate 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 was down 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 EPS. On average, analysts expect that Cisco Systems, Inc. will post 3.13 earnings per share 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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.33%. This is an increase 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 is presently 48.63%.

Insider Transactions at Cisco Systems

In other news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction on Monday, March 11th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the sale, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The disclosure for this sale can be found here. Insiders sold a total of 19,441 shares of company stock worth $972,080 in the last ninety days. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CSCO. JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. Barclays raised their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Piper Sandler raised their price objective on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Two equities 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $55.53.

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.