Zhang Financial LLC Buys 7,331 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Zhang Financial LLC raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 16.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,447 shares of the network equipment provider's stock after acquiring an additional 7,331 shares during the period. Zhang Financial LLC's holdings in Cisco Systems were worth $3,046,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. FMR LLC grew its stake in Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider's stock valued at $3,402,432,000 after purchasing an additional 5,885,879 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of Cisco Systems by 327.5% in the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider's stock worth $362,907,000 after buying an additional 5,223,800 shares during the last quarter. Pathway Financial Advisers LLC grew its position in Cisco Systems by 5,231.5% during the third quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider's stock valued at $262,646,000 after buying an additional 4,842,542 shares during the period. National Bank of Canada FI increased its holdings in Cisco Systems by 79.6% during the third quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider's stock worth $477,463,000 after buying an additional 3,975,028 shares during the last quarter. Finally, State Street Corp raised its position in Cisco Systems by 1.7% in the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider's stock worth $10,297,506,000 after acquiring an additional 3,241,682 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 21,230 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the sale, the executive vice president now owns 213,834 shares in the company, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 586 shares of Cisco Systems stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the transaction, the senior vice president now 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 disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 over the last ninety days. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Trading Up 0.7 %

NASDAQ:CSCO opened at $60.23 on Monday. The firm has a market capitalization of $239.88 billion, a P/E 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. The company has a fifty day moving average of $58.91 and a 200 day moving average of $53.57. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.95.

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, beating analysts' consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 earnings per share. On average, research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently announced 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. 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 payout ratio is presently 68.67%.

Analysts Set New Price Targets

CSCO has been the subject of several research analyst reports. StockNews.com upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. Tigress Financial increased their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Barclays boosted their price objective on Cisco Systems from $49.00 to $56.00 and gave the company an "equal weight" rating in a research note on Thursday, November 14th. Wells Fargo & Company increased their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. Finally, Piper Sandler boosted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Eight 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, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus target price of $61.50.

Cisco Systems Company 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.

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