Relyea Zuckerberg Hanson LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 114.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,379 shares of the network equipment provider's stock after purchasing an additional 15,702 shares during the period. Relyea Zuckerberg Hanson LLC's holdings in Cisco Systems were worth $1,739,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Quarry LP grew its stake in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after buying an additional 456 shares during the last quarter. West Financial Advisors LLC boosted its holdings in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock valued at $31,000 after acquiring an additional 309 shares during the period. Highline Wealth Partners LLC grew 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 worth $35,000 after acquiring an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Cisco Systems in the 3rd quarter worth about $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in Cisco Systems in the 4th quarter valued at about $49,000. 73.33% of the stock is currently owned by institutional investors.
Cisco Systems Trading Up 0.7 %
Shares of NASDAQ:CSCO traded up $0.41 during midday trading on Friday, reaching $60.23. The company had a trading volume of 23,800,968 shares, compared to its average volume of 17,184,370. The company has a fifty day simple moving average of $58.91 and a two-hundred day simple moving average of $53.52. The firm has a market cap of $239.88 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth 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 quick ratio of 0.80 and a current ratio of 0.88.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to analysts' expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business's revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the company posted $0.98 earnings per share. Research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.
Cisco Systems Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.66%. Cisco Systems's dividend payout ratio (DPR) is presently 68.67%.
Insider Activity
In other news, CEO Charles Robbins sold 171,744 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 783,786 shares of the company's stock, 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 legal filing with the SEC, which can be accessed through this link. Also, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $4,964,318.99. Following the sale, the chief financial officer now owns 365,314 shares of the company's stock, valued at approximately $21,001,901.86. This represents a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on CSCO shares. Tigress Financial raised their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Melius upgraded Cisco Systems from a "hold" rating to a "buy" rating and boosted their price target for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Wells Fargo & Company raised their price target on Cisco Systems from $57.00 to $60.00 and gave the company an "equal weight" rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Finally, Citigroup increased their target price on shares of Cisco Systems from $64.00 to $68.00 and gave the company a "buy" rating in a research report on Friday. Eight equities research 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 data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $61.50.
Check Out Our Latest Research Report on CSCO
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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