79,321 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Acquired by Orca Wealth Management LLC

Orca Wealth Management LLC bought a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 79,321 shares of the network equipment provider's stock, valued at approximately $4,696,000. Cisco Systems makes up 4.2% of Orca Wealth Management LLC's portfolio, making the stock its 4th biggest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP boosted its position in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider's stock valued at $31,000 after buying an additional 456 shares during the last quarter. Gateway Wealth Partners LLC grew its stake in Cisco Systems by 14.3% during the 2nd quarter. Gateway Wealth Partners LLC now owns 5,576 shares of the network equipment provider's stock valued at $265,000 after purchasing an additional 698 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in Cisco Systems by 0.3% during the 2nd quarter. Pathway Financial Advisers LLC now owns 92,565 shares of the network equipment provider's stock valued at $4,392,000 after purchasing an additional 321 shares in the last quarter. Granite Bay Wealth Management LLC acquired a new position in shares of Cisco Systems in the 2nd quarter valued at approximately $3,358,000. Finally, Ariadne Wealth Management LP purchased a new position in shares of Cisco Systems during the 2nd quarter valued at approximately $264,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of the company's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the sale, the executive vice president now owns 213,834 shares in the company, valued at $12,203,506.38. This represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 586 shares of the firm's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the transaction, the senior vice president now directly owns 50,767 shares of the company's stock, valued at $2,979,515.23. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CSCO shares. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. UBS Group upped their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. Melius Research upgraded Cisco Systems from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Piper Sandler upped their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. Finally, Barclays lifted their target price on Cisco Systems from $49.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.72.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded up $0.13 during trading hours on Friday, hitting $60.60. The stock had a trading volume of 16,554,120 shares, compared to its average volume of 17,314,172. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock's fifty day simple moving average is $59.44 and its 200 day simple moving average is $54.49. The firm has a market capitalization of $241.36 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 4.43 and a beta of 0.84. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $62.31.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share 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 firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. Sell-side analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were paid a dividend of $0.40 per share. The ex-dividend date was Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.64%. Cisco Systems's payout ratio is 68.67%.

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.