Avanza Fonder AB Purchases New Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Avanza Fonder AB purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 407,704 shares of the network equipment provider's stock, valued at approximately $24,136,000. Cisco Systems accounts for approximately 0.7% of Avanza Fonder AB's investment portfolio, making the stock its 19th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSCO. Quarry LP raised its position in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock valued at $31,000 after buying an additional 456 shares in the last quarter. West Financial Advisors LLC increased its stake in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after acquiring an additional 309 shares during the period. Highline Wealth Partners LLC lifted its position in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock valued at $35,000 after acquiring an additional 260 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of Cisco Systems during the 3rd quarter worth $40,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Cisco Systems in the fourth quarter worth $49,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Up 0.7 %

Shares of CSCO traded up $0.41 during trading hours on Friday, hitting $60.23. The stock had a trading volume of 23,800,968 shares, compared to its average volume of 17,184,370. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $60.95. The firm has a market capitalization of $239.88 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The firm has a 50 day simple moving average of $58.91 and a 200-day simple moving average of $53.52. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Cisco Systems's revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 earnings per share. Sell-side analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.66%. Cisco Systems's payout ratio is 68.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CSCO shares. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Piper Sandler upped their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. Citigroup lifted their target price on Cisco Systems from $64.00 to $68.00 and gave the company a "buy" rating in a research report on Friday. Evercore ISI boosted their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Friday, September 20th. Finally, UBS Group boosted their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $61.50.

Insider Buying and Selling at Cisco Systems

In related news, SVP Maria Victoria Wong sold 586 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the transaction, the senior vice president now directly owns 50,767 shares in the company, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $59.19, for a total transaction of $180,055.98. Following the completion of the sale, the executive vice president now owns 207,798 shares of the company's stock, valued at approximately $12,299,563.62. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 353,522 shares of company stock worth $20,349,721. Insiders own 0.01% of the company's stock.

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.