Cibc World Market Inc. Raises Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Cibc World Market Inc. boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 12.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,060,307 shares of the network equipment provider's stock after acquiring an additional 121,010 shares during the period. Cibc World Market Inc.'s holdings in Cisco Systems were worth $62,770,000 as of its most recent filing with the SEC.

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

Cisco Systems Price Performance

NASDAQ CSCO traded up $0.44 on Monday, reaching $61.04. The company had a trading volume of 20,335,686 shares, compared to its average volume of 19,057,650. The firm's 50 day moving average price is $59.44 and its 200 day moving average price is $54.58. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $62.31. The stock has a market capitalization of $243.11 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 4.51 and a beta of 0.84. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

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

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were given a $0.40 dividend. The ex-dividend date was Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.62%. Cisco Systems's dividend payout ratio is currently 68.67%.

Analyst Upgrades and Downgrades

CSCO has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 14th. Tigress Financial lifted their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Citigroup upped their target price on Cisco Systems from $64.00 to $68.00 and gave the stock a "buy" rating in a research note on Friday, January 17th. Melius upgraded Cisco Systems from a "hold" rating to a "buy" rating and lifted their price target for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Finally, Piper Sandler boosted their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $62.72.

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 171,744 shares of the company's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 completion of the sale, the senior vice president now directly owns 50,767 shares of the company's stock, valued at approximately $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 over the last ninety days. 0.01% of the stock is owned by 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.