Diversify Wealth Management LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 48.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,998 shares of the network equipment provider's stock after purchasing an additional 27,175 shares during the period. Diversify Wealth Management LLC's holdings in Cisco Systems were worth $4,875,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in CSCO. Ellsworth Advisors LLC grew its stake in shares of Cisco Systems by 1.7% during the fourth quarter. Ellsworth Advisors LLC now owns 104,744 shares of the network equipment provider's stock valued at $6,201,000 after acquiring an additional 1,711 shares in the last quarter. Grove Bank & Trust boosted its holdings in Cisco Systems by 8.8% in the fourth quarter. Grove Bank & Trust now owns 15,024 shares of the network equipment provider's stock valued at $889,000 after purchasing an additional 1,221 shares during the last quarter. Brady Martz Wealth Solutions LLC acquired a new stake in Cisco Systems during the 4th quarter valued at approximately $1,442,000. Lbmc Investment Advisors LLC increased its holdings in Cisco Systems by 4.3% during the 4th quarter. Lbmc Investment Advisors LLC now owns 12,162 shares of the network equipment provider's stock worth $720,000 after purchasing an additional 506 shares during the last quarter. Finally, Cadinha & Co. LLC acquired a new position in shares of Cisco Systems in the 4th quarter valued at approximately $13,886,000. 73.33% of the stock is owned by institutional investors and hedge funds.
Cisco Systems Stock Performance
NASDAQ CSCO traded up $0.41 on Monday, hitting $60.23. The stock had a trading volume of 23,800,968 shares, compared to its average volume of 17,184,370. The company's 50-day moving average is $58.91 and its two-hundred day moving average is $53.61. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.95. The stock has a market cap of $239.88 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 4.37 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 issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion during 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%. The business's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 EPS. On average, analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.
Cisco Systems Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Friday, January 3rd. Cisco Systems's dividend payout ratio is currently 68.67%.
Insider Buying and Selling
In related news, CEO Charles Robbins sold 171,744 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the sale, the chief executive officer now owns 783,786 shares of the company's stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the transaction, the chief financial officer now directly owns 365,314 shares of the company's stock, valued at approximately $21,001,901.86. The trade was a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 over the last 90 days. 0.01% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on CSCO shares. Barclays raised their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. Melius Research raised shares of Cisco Systems from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Citigroup increased their price target on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a "buy" rating in a research report on Friday. Piper Sandler boosted their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. Finally, StockNews.com upgraded Cisco Systems from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and a consensus target price of $61.50.
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Cisco Systems Profile
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Free Report)
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.
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