Suncoast Equity Management Purchases 790 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Suncoast Equity Management increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,778 shares of the network equipment provider’s stock after acquiring an additional 790 shares during the quarter. Suncoast Equity Management’s holdings in Cisco Systems were worth $1,353,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. State Street Corp lifted its position in Cisco Systems by 2.2% during the first quarter. State Street Corp now owns 184,879,450 shares of the network equipment provider’s stock valued at $9,664,544,000 after purchasing an additional 4,061,022 shares during the last quarter. Morgan Stanley raised its stake in shares of Cisco Systems by 17.4% during the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock worth $2,943,593,000 after acquiring an additional 9,160,347 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of Cisco Systems by 112,307.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock worth $2,835,509,000 after acquiring an additional 59,466,550 shares in the last quarter. FMR LLC raised its stake in shares of Cisco Systems by 3.2% during the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock worth $3,069,815,000 after acquiring an additional 1,790,717 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Cisco Systems by 6.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock worth $2,975,139,000 after acquiring an additional 3,087,294 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on CSCO shares. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, April 9th. Piper Sandler lifted their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $55.00 to $60.00 in a research note on Monday. Finally, Wells Fargo & Company assumed coverage on shares of Cisco Systems in a research report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price objective on the stock. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $56.03.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock valued at $972,080 over the last quarter. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded down $0.07 during midday trading on Tuesday, reaching $48.17. 4,341,391 shares of the stock traded hands, compared to its average volume of 19,510,371. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The stock has a market capitalization of $195.05 billion, a PE ratio of 14.70, a P/E/G ratio of 2.78 and a beta of 0.87. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19. The company’s 50 day moving average is $49.22 and its 200 day moving average is $50.37.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The firm had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 EPS. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.15 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be given a $0.40 dividend. The ex-dividend date is Wednesday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 3.32%. Cisco Systems’s dividend payout ratio (DPR) is currently 48.63%.

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.