HB Wealth Management LLC grew its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 324,746 shares of the network equipment provider's stock after purchasing an additional 8,275 shares during the period. HB Wealth Management LLC's holdings in Cisco Systems were worth $19,225,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Seven Eight Capital LP purchased a new stake in shares of Cisco Systems during the second quarter valued at $242,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Cisco Systems by 20.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 174,973 shares of the network equipment provider's stock worth $8,313,000 after buying an additional 29,163 shares during the period. Benjamin Edwards Inc. raised its position in Cisco Systems by 2.8% during the second quarter. Benjamin Edwards Inc. now owns 8,441 shares of the network equipment provider's stock valued at $401,000 after buying an additional 226 shares during the period. Sei Investments Co. lifted its stake in Cisco Systems by 13.7% in the 2nd quarter. Sei Investments Co. now owns 2,041,220 shares of the network equipment provider's stock worth $96,984,000 after acquiring an additional 245,780 shares in the last quarter. Finally, Boston Research & Management Inc. boosted its position in Cisco Systems by 0.9% during the 2nd quarter. Boston Research & Management Inc. now owns 146,582 shares of the network equipment provider's stock worth $6,964,000 after acquiring an additional 1,243 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on CSCO. Barclays increased 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. Tigress Financial increased their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Morgan Stanley boosted their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. UBS Group increased their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. upgraded Cisco Systems from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $61.50.
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Cisco Systems Stock Performance
NASDAQ:CSCO traded up $0.41 during midday trading on Friday, reaching $60.23. The stock had a trading volume of 23,800,968 shares, compared to its average volume of 17,184,370. The stock has a market capitalization of $239.88 billion, a P/E ratio of 25.85, a PEG ratio of 4.37 and a beta of 0.84. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $60.95. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The firm's fifty day simple moving average is $58.91 and its 200-day simple moving average is $53.57.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same period last year, the business posted $0.98 earnings per share. The firm's revenue was down 5.6% compared to the same quarter last year. On average, equities research analysts forecast 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. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.66%. Cisco Systems's dividend payout ratio (DPR) is presently 68.67%.
Insider Activity
In other news, SVP Maria Victoria Wong sold 586 shares of Cisco Systems stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the sale, the senior vice president now 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer now 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 disclosure for this sale can be found here. Over the last three months, insiders sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is owned by company insiders.
About Cisco Systems
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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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