Norden Group LLC Purchases 7,337 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Norden Group LLC lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,108 shares of the network equipment provider’s stock after purchasing an additional 7,337 shares during the quarter. Cisco Systems accounts for about 0.6% of Norden Group LLC’s holdings, making the stock its 14th largest holding. Norden Group LLC’s holdings in Cisco Systems were worth $3,441,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Wealthspire Advisors LLC grew its position in Cisco Systems by 48.1% during the third quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock valued at $3,838,000 after acquiring an additional 23,194 shares during the last quarter. Roble Belko & Company Inc grew its holdings in shares of Cisco Systems by 77.1% during the 4th quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock valued at $324,000 after purchasing an additional 2,788 shares during the last quarter. HBK Sorce Advisory LLC raised its position in Cisco Systems by 0.5% in the 3rd quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock worth $3,448,000 after purchasing an additional 301 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Cisco Systems in the fourth quarter worth about $28,685,000. Finally, Adage Capital Partners GP L.L.C. lifted its stake in shares of Cisco Systems by 1.1% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock valued at $240,335,000 after acquiring an additional 49,700 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 transaction, the senior vice president now owns 58,121 shares in the company, valued at $2,906,050. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction 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 directly owns 58,121 shares of the company’s stock, valued at $2,906,050. The transaction 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 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 directly owns 328,491 shares in the company, valued at approximately $16,424,550. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock worth $972,080 in the last three months. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

CSCO stock traded down $0.65 during midday trading on Tuesday, reaching $47.13. 7,291,659 shares of the company’s stock traded hands, compared to its average volume of 19,107,408. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The stock has a market cap of $190.84 billion, a P/E ratio of 14.52, a PEG ratio of 2.76 and a beta of 0.87. The stock’s 50-day moving average is $48.92 and its 200 day moving average is $49.97.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $12.71 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. Cisco Systems’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, analysts anticipate that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.39%. Cisco Systems’s dividend payout ratio is 48.63%.

Analyst Upgrades and Downgrades

CSCO has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. 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. UBS Group increased their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Piper Sandler boosted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $55.53.

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.