Financial Symmetry Inc Invests $403,000 in Cisco Systems, Inc. (NASDAQ:CSCO)

Financial Symmetry Inc acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,977 shares of the network equipment provider’s stock, valued at approximately $403,000. Cisco Systems makes up approximately 0.4% of Financial Symmetry Inc’s portfolio, making the stock its 21st biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of CSCO. United Bank acquired a new stake in shares of Cisco Systems in the first quarter worth $645,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Cisco Systems by 32.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider’s stock worth $236,593,000 after acquiring an additional 1,040,607 shares in the last quarter. Roundview Capital LLC raised its holdings in shares of Cisco Systems by 13.1% during the first quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider’s stock worth $588,000 after acquiring an additional 1,221 shares in the last quarter. Merit Financial Group LLC raised its holdings in shares of Cisco Systems by 21.5% during the first quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider’s stock worth $656,000 after acquiring an additional 2,079 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Cisco Systems by 8.1% during the first quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider’s stock worth $135,470,000 after acquiring an additional 182,857 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the sale, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock worth $972,080 in the last quarter. Insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several recent research reports. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. UBS Group raised their target price on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Deutsche Bank Aktiengesellschaft raised their target price on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. Citigroup began coverage on Cisco Systems in a report on Friday, April 12th. They set a “neutral” rating and a $52.00 target price on the stock. Finally, Piper Sandler raised their target price on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $56.03.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO traded up $0.10 during trading on Friday, reaching $48.21. The stock had a trading volume of 5,346,087 shares, compared to its average volume of 19,301,979. Cisco Systems, Inc. has a 52 week low of $45.56 and a 52 week high of $58.19. The business’s 50-day moving average price is $49.11 and its 200 day moving average price is $50.29. 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 $195.21 billion, a PE ratio of 14.65, a P/E/G ratio of 2.74 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. Cisco Systems’s quarterly revenue was down 5.9% compared to the same quarter last year. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently disclosed 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. This represents a $1.60 annualized dividend and a yield of 3.32%. The ex-dividend date is Wednesday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is 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.