Cisco Systems, Inc. (NASDAQ:CSCO) Holdings Lifted by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 58,643 shares of the network equipment provider's stock after acquiring an additional 5,404 shares during the quarter. Ritholtz Wealth Management's holdings in Cisco Systems were worth $3,472,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CSCO. Quest Partners LLC bought a new stake in Cisco Systems in the second quarter valued at about $62,000. Blair William & Co. IL raised its position in shares of Cisco Systems by 9.2% during the 2nd quarter. Blair William & Co. IL now owns 697,285 shares of the network equipment provider's stock valued at $33,128,000 after acquiring an additional 58,987 shares in the last quarter. Seven Eight Capital LP bought a new position in Cisco Systems during the second quarter worth $242,000. Sienna Gestion lifted its stake in Cisco Systems by 41.2% during the second quarter. Sienna Gestion now owns 310,525 shares of the network equipment provider's stock worth $14,746,000 after purchasing an additional 90,610 shares during the last quarter. Finally, Altrius Capital Management Inc boosted its holdings in Cisco Systems by 10.6% in the second quarter. Altrius Capital Management Inc now owns 95,579 shares of the network equipment provider's stock worth $4,541,000 after purchasing an additional 9,127 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded up $0.41 during mid-day trading on Friday, reaching $60.23. 23,800,968 shares of the company traded hands, compared to its average volume of 18,142,955. The firm has a market cap of $239.88 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $60.95. The stock has a fifty day simple moving average of $58.87 and a 200-day simple moving average of $53.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping 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 company 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 company's quarterly revenue was down 5.6% compared to the same quarter last year. Equities research analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid 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 is currently 68.67%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Citigroup raised 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. Bank of America lifted their target price on Cisco Systems from $60.00 to $72.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Piper Sandler increased their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. Melius raised Cisco Systems from a "hold" rating to a "buy" rating and raised their price target for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Finally, UBS Group upped their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $61.50.

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 586 shares of the business's stock in a transaction 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 directly owns 50,767 shares of the company's stock, valued at $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the transaction, the executive vice president now owns 207,798 shares of the company's stock, valued at $12,299,563.62. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 in the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

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.