Onyx Bridge Wealth Group LLC Has $316,000 Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Onyx Bridge Wealth Group LLC raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 16.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,247 shares of the network equipment provider’s stock after acquiring an additional 862 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Cisco Systems were worth $316,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CSCO. Kathleen S. Wright Associates Inc. acquired a new position in shares of Cisco Systems in the third quarter worth $27,000. Valued Wealth Advisors LLC bought a new stake in Cisco Systems in the fourth quarter worth $32,000. Morton Brown Family Wealth LLC boosted its holdings in Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares in the last quarter. Fortis Capital Advisors LLC bought a new stake in Cisco Systems in the fourth quarter worth $34,000. Finally, Bourgeon Capital Management LLC boosted its holdings in Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $55.00 to $60.00 in a report on Monday, April 15th. Piper Sandler upped their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Finally, Morgan Stanley assumed coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price target for the company. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and a consensus target price of $56.03.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the transaction, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is currently owned by insiders.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded up $0.21 during midday trading on Friday, reaching $48.32. The company had a trading volume of 20,964,433 shares, compared to its average volume of 16,323,960. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $195.66 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 2.76 and a beta of 0.87. The stock has a fifty day simple moving average of $49.07 and a 200 day simple moving average of $50.25. Cisco Systems, Inc. has a 1-year low of $45.56 and a 1-year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The business had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. Cisco Systems’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.76 earnings per share. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.14 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 issued a $0.40 dividend. The ex-dividend date is Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.31%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio (DPR) is currently 48.63%.

About Cisco Systems

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.