HB Wealth Management LLC Has $32.40 Million Stock Holdings in Cisco Systems, Inc. $CSCO

HB Wealth Management LLC boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 420,597 shares of the network equipment provider’s stock after purchasing an additional 9,856 shares during the quarter. HB Wealth Management LLC’s holdings in Cisco Systems were worth $32,399,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Cisco Systems by 6.9% in 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 acquiring an additional 205,043 shares during the last quarter. Greystone Financial Group LLC acquired a new stake in shares of Cisco Systems in the 3rd quarter worth about $8,563,000. Jones Financial Companies Lllp raised its holdings in shares of Cisco Systems by 8.9% in the 3rd 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 last quarter. Rockland Trust Co. raised its holdings 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 worth $1,402,000 after acquiring an additional 13,966 shares during the last quarter. Finally, CX Institutional raised its holdings in shares of Cisco Systems by 11.0% in the 3rd quarter. CX Institutional now owns 144,336 shares of the network equipment provider’s stock worth $9,875,000 after acquiring an additional 14,334 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. UBS Group lifted their target price on Cisco Systems from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. lifted their target price on Cisco Systems from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Evercore raised shares of Cisco Systems from an “in-line” rating to an “outperform” rating and raised their price target for the company from $80.00 to $100.00 in a research report on Monday, January 26th. BNP Paribas Exane raised their price target on shares of Cisco Systems from $86.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cisco Systems in a research report on Tuesday, January 27th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus price target of $89.81.

Check Out Our Latest Research Report on CSCO

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 7,981 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $79.50, for a total transaction of $634,489.50. Following the completion of the transaction, the executive vice president directly owned 187,097 shares of the company’s stock, valued at $14,874,211.50. This represents a 4.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 19,545 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 $1,485,420.00. Following the completion of the sale, the chief executive officer directly owned 671,095 shares of the company’s stock, valued at $51,003,220. This represents a 2.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 46,431 shares of company stock worth $3,574,820. 0.01% of the stock is owned by insiders.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $89.80 on Thursday. Cisco Systems, Inc. has a twelve month low of $55.16 and a twelve month high of $90.45. The stock’s 50 day moving average price is $80.03 and its 200-day moving average price is $77.16. The company has a market capitalization of $354.70 billion, a PE ratio of 31.51, a PEG ratio of 3.38 and a beta of 0.83. 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 earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $15.11 billion. During the same period last year, the firm posted $0.94 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.4 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd were paid a $0.42 dividend. The ex-dividend date was Thursday, April 2nd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a yield of 1.9%. Cisco Systems’s dividend payout ratio is presently 58.95%.

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Cisco Systems Profile

(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.

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

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