Princeton Global Asset Management LLC Grows Position in Cisco Systems, Inc. (NASDAQ:CSCO)


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Princeton Global Asset Management LLC lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 66,200 shares of the network equipment provider’s stock after purchasing an additional 2,404 shares during the quarter. Cisco Systems accounts for about 1.0% of Princeton Global Asset Management LLC’s holdings, making the stock its 27th largest holding. Princeton Global Asset Management LLC’s holdings in Cisco Systems were worth $2,962,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Costello Asset Management INC purchased a new position in shares of Cisco Systems during the 4th quarter valued at about $26,000. Bainco International Investors bought a new position in Cisco Systems during the 4th quarter worth approximately $30,000. Goodwin Investment Advisory bought a new position in Cisco Systems during the 4th quarter worth approximately $31,000. Legal Advantage Investments Inc. bought a new position in Cisco Systems during the 4th quarter worth approximately $47,000. Finally, Ellevest Inc. grew its position in Cisco Systems by 33.2% during the 3rd quarter. Ellevest Inc. now owns 1,478 shares of the network equipment provider’s stock worth $58,000 after acquiring an additional 368 shares during the last quarter. 70.62% of the stock is currently owned by institutional investors.

Cisco Systems stock traded down $0.05 during midday trading on Tuesday, hitting $45.38. 791,624 shares of the company were exchanged, compared to its average volume of 21,138,654. The firm has a market capitalization of $191.58 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 2.54 and a beta of 0.95. Cisco Systems, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $49.34. The business has a fifty day simple moving average of $45.85 and a two-hundred day simple moving average of $42.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.54 and a current ratio of 1.59.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.76 by $0.03. Cisco Systems had a return on equity of 32.64% and a net margin of 21.76%. During the same quarter last year, the business earned $0.77 EPS. As a group, equities analysts expect that Cisco Systems, Inc. will post 2.86 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 28th. Shareholders of record on Tuesday, April 6th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, April 5th. This represents a $1.48 dividend on an annualized basis and a yield of 3.26%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.36. Cisco Systems’s dividend payout ratio is currently 49.32%.

CSCO has been the topic of several recent research reports. Credit Suisse Group raised their price target on Cisco Systems from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 10th. Oppenheimer restated a “buy” rating and set a $50.00 price target on shares of Cisco Systems in a research report on Tuesday, February 9th. Citigroup raised their price target on Cisco Systems from $45.00 to $50.00 in a research report on Wednesday, February 10th. DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Thursday, February 11th. Finally, Piper Sandler lifted their price objective on Cisco Systems from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 10th. Sixteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $48.63.

In related news, CFO Kelly A. Kramer sold 45,000 shares of Cisco Systems stock in a transaction that occurred on Friday, November 27th. The stock was sold at an average price of $42.81, for a total transaction of $1,926,450.00. Following the transaction, the chief financial officer now owns 297,078 shares in the company, valued at $12,717,909.18. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 8,497 shares of Cisco Systems stock in a transaction that occurred on Wednesday, February 17th. The stock was sold at an average price of $46.20, for a total value of $392,561.40. The disclosure for this sale can be found here. Insiders have sold 75,530 shares of company stock worth $3,338,858 in the last quarter. 0.02% of the stock is currently owned by company 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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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