SlateStone Wealth LLC Boosts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

SlateStone Wealth LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 9.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 74,125 shares of the network equipment provider’s stock after buying an additional 6,555 shares during the period. SlateStone Wealth LLC’s holdings in Cisco Systems were worth $3,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CSCO. California Public Employees Retirement System grew its stake in Cisco Systems by 25.0% in the 4th quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock valued at $947,262,000 after acquiring an additional 3,753,165 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Cisco Systems in the 3rd quarter valued at $179,207,000. Capital Wealth Planning LLC grew its stake in Cisco Systems by 7,074.3% in the 3rd quarter. Capital Wealth Planning LLC now owns 3,271,642 shares of the network equipment provider’s stock valued at $175,883,000 after acquiring an additional 3,226,040 shares during the period. Pacer Advisors Inc. grew its stake in Cisco Systems by 32.7% in the 4th quarter. Pacer Advisors Inc. now owns 7,749,370 shares of the network equipment provider’s stock valued at $391,498,000 after acquiring an additional 1,909,597 shares during the period. Finally, Northern Trust Corp grew its stake in Cisco Systems by 3.8% in the 3rd quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock valued at $2,717,537,000 after acquiring an additional 1,847,682 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSCO has been the topic of several recent research reports. Melius Research reaffirmed a “hold” rating and set a $55.00 target price on shares of Cisco Systems in a research note on Monday, January 8th. 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. UBS Group lifted their target price on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the company from $55.00 to $60.00 in a research report on Monday, April 15th. Finally, Piper Sandler boosted their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $55.53.

Cisco Systems Stock Down 0.5 %

Shares of Cisco Systems stock traded down $0.24 on Wednesday, reaching $48.08. 1,448,203 shares of the company were exchanged, compared to its average volume of 19,250,539. Cisco Systems, Inc. has a 1-year low of $45.56 and a 1-year high of $58.19. The company has a market cap of $194.69 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 2.78 and a beta of 0.87. 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’s 50 day moving average price is $49.01 and its 200-day moving average price is $50.13.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The business had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. During the same period in the previous year, the company posted $0.76 earnings per share. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, equities analysts forecast that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The firm 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. This represents a $1.60 dividend on an annualized basis and a yield of 3.33%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, April 3rd. Cisco Systems’s dividend payout ratio is 48.63%.

Insider Activity at Cisco Systems

In other news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the 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 completion of the sale, the executive vice president now directly 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 sold 19,441 shares of company stock valued at $972,080 over the last three months. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Company 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.