Cumberland Partners Ltd Buys Shares of 137,305 Cisco Systems, Inc. $CSCO

Cumberland Partners Ltd acquired a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 137,305 shares of the network equipment provider’s stock, valued at approximately $9,394,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CSCO. Avantax Advisory Services Inc. grew its holdings in Cisco Systems by 1.1% in the second quarter. Avantax Advisory Services Inc. now owns 420,336 shares of the network equipment provider’s stock worth $29,163,000 after purchasing an additional 4,525 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Cisco Systems by 6.9% during the 3rd 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 buying an additional 205,043 shares during the last quarter. Greystone Financial Group LLC purchased a new stake in Cisco Systems in the third quarter valued at $8,563,000. Jones Financial Companies Lllp grew its holdings in Cisco Systems by 8.9% during the third quarter. Jones Financial Companies Lllp now owns 686,469 shares of the network equipment provider’s stock worth $46,165,000 after acquiring an additional 56,057 shares during the period. Finally, Rockland Trust Co. lifted its stake in shares of Cisco Systems by 213.8% in the 3rd quarter. Rockland Trust Co. now owns 20,497 shares of the network equipment provider’s stock valued at $1,402,000 after purchasing an additional 13,966 shares during the period. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Barclays boosted their price objective on Cisco Systems from $71.00 to $76.00 and gave the company an “equal weight” rating in a research report on Thursday, November 13th. Argus raised shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, February 13th. Wells Fargo & Company boosted their price objective on Cisco Systems from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. UBS Group increased their target price on Cisco Systems from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, Evercore raised Cisco Systems from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $80.00 to $100.00 in a research note on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and an average price target of $89.55.

Insider Activity at Cisco Systems

In related news, Director Michael D. Capellas sold 16,150 shares of the stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $77.28, for a total value of $1,248,072.00. Following the completion of the transaction, the director directly owned 157,218 shares in the company, valued at approximately $12,149,807.04. This represents a 9.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeetendra I. Patel sold 11,248 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $76.00, for a total value of $854,848.00. Following the sale, the insider directly owned 262,776 shares of the company’s stock, valued at approximately $19,970,976. This trade represents a 4.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 83,299 shares of company stock valued at $6,390,416 over the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 1.7%

Shares of Cisco Systems stock opened at $78.18 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85. The stock’s 50 day simple moving average is $77.70 and its 200-day simple moving average is $73.30. The stock has a market cap of $308.90 billion, a P/E ratio of 27.43, a P/E/G ratio of 2.92 and a beta of 0.87. Cisco Systems, Inc. has a 1-year low of $52.11 and a 1-year high of $88.18.

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

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 2nd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a yield of 2.1%. Cisco Systems’s dividend payout ratio (DPR) is 57.54%.

Cisco Systems Profile

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.