Cisco Systems, Inc. $CSCO Shares Bought by Gradient Investments LLC

Gradient Investments LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 2,018.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 187,308 shares of the network equipment provider’s stock after acquiring an additional 178,466 shares during the quarter. Gradient Investments LLC’s holdings in Cisco Systems were worth $14,428,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CSCO. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Cisco Systems by 6.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,189,645 shares of the network equipment provider’s stock worth $218,236,000 after acquiring an additional 205,043 shares during the last quarter. Greystone Financial Group LLC purchased a new stake in Cisco Systems in the 3rd quarter valued at $8,563,000. Jones Financial Companies Lllp boosted its stake in Cisco Systems by 8.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 686,469 shares of the network equipment provider’s stock worth $46,165,000 after purchasing an additional 56,057 shares during the period. Rockland Trust Co. grew its position in Cisco Systems by 213.8% during the 3rd quarter. Rockland Trust Co. now owns 20,497 shares of the network equipment provider’s stock worth $1,402,000 after purchasing an additional 13,966 shares during the last quarter. Finally, CX Institutional grew its position in Cisco Systems by 11.0% during the 3rd quarter. CX Institutional now owns 144,336 shares of the network equipment provider’s stock worth $9,875,000 after purchasing an additional 14,334 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Trading Up 1.5%

Shares of Cisco Systems stock opened at $78.81 on Tuesday. The firm has a market cap of $311.27 billion, a price-to-earnings ratio of 27.65, a price-to-earnings-growth ratio of 2.93 and a beta of 0.87. Cisco Systems, Inc. has a 52-week low of $52.11 and a 52-week high of $88.18. The company’s 50-day simple moving average is $78.48 and its 200-day simple moving average is $74.96. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45.

Cisco Systems (NASDAQ:CSCOGet Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The firm had revenue of $15.35 billion during the quarter, compared to the consensus estimate of $15.11 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, April 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 58.95%.

Cisco Systems News Summary

Here are the key news stories impacting Cisco Systems this week:

Insider Transactions at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 7,981 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $79.50, for a total transaction of $634,489.50. Following the transaction, the executive vice president owned 187,097 shares of the company’s stock, valued at $14,874,211.50. This represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 551 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $77.54, for a total value of $42,724.54. Following the completion of the sale, the senior vice president directly owned 27,957 shares of the company’s stock, valued at approximately $2,167,785.78. This trade represents a 1.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 46,431 shares of company stock valued at $3,574,820. 0.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cisco Systems in a report on Tuesday, January 27th. DZ Bank upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, February 13th. Citigroup upped their price objective on Cisco Systems from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Evercore raised Cisco Systems from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $80.00 to $100.00 in a research report on Monday, January 26th. Finally, CICC Research boosted their target price on Cisco Systems from $84.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.55.

Get Our Latest Report on CSCO

About Cisco Systems

(Free Report)

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

See Also

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCOFree Report).

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

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