Morse Asset Management Inc Buys New Shares in Cisco Systems, Inc. $CSCO

Morse Asset Management Inc bought a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,090 shares of the network equipment provider’s stock, valued at approximately $546,000.

Other hedge funds have also added to or reduced their stakes in the company. Cairn Investment Group Inc. lifted its stake in shares of Cisco Systems by 0.5% during the 4th quarter. Cairn Investment Group Inc. now owns 24,146 shares of the network equipment provider’s stock worth $1,860,000 after buying an additional 130 shares during the last quarter. Juncture Wealth Strategies LLC raised its stake in Cisco Systems by 0.9% in the 4th quarter. Juncture Wealth Strategies LLC now owns 15,042 shares of the network equipment provider’s stock worth $1,159,000 after purchasing an additional 132 shares in the last quarter. Northstar Advisory Group LLC raised its stake in Cisco Systems by 1.6% in the 4th quarter. Northstar Advisory Group LLC now owns 8,203 shares of the network equipment provider’s stock worth $632,000 after purchasing an additional 133 shares in the last quarter. Roman Butler Fullerton & Co. raised its stake in Cisco Systems by 0.8% in the 4th quarter. Roman Butler Fullerton & Co. now owns 15,917 shares of the network equipment provider’s stock worth $1,183,000 after purchasing an additional 133 shares in the last quarter. Finally, MMA Asset Management LLC raised its stake in Cisco Systems by 2.3% in the 4th quarter. MMA Asset Management LLC now owns 6,167 shares of the network equipment provider’s stock worth $475,000 after purchasing an additional 139 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CSCO. Citigroup lifted their price objective on shares of Cisco Systems from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Evercore upgraded shares of Cisco Systems from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $80.00 to $100.00 in a research note on Monday, January 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price objective on shares of Cisco Systems in a research note on Thursday, February 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cisco Systems in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cisco Systems from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.81.

Insider Buying and Selling

In other news, EVP Deborah L. Stahlkopf sold 7,981 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $79.50, for a total value of $634,489.50. Following the completion of the transaction, the executive vice president directly owned 187,097 shares in the company, valued at approximately $14,874,211.50. The trade was a 4.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Oliver Tuszik sold 3,132 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $79.74, for a total transaction of $249,745.68. Following the completion of the transaction, the executive vice president owned 188,613 shares of the company’s stock, valued at $15,040,000.62. The trade was a 1.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 46,431 shares of company stock worth $3,574,820. 0.01% of the stock is owned by company insiders.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $92.63 on Tuesday. The firm has a 50 day moving average of $81.46 and a 200-day moving average of $78.07. The stock has a market capitalization of $365.88 billion, a PE ratio of 32.50, a PEG ratio of 3.46 and a beta of 0.92. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. Cisco Systems, Inc. has a 12 month low of $58.58 and a 12 month high of $93.10.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. The company had revenue of $15.35 billion during the quarter, compared to analysts’ expectations of $15.11 billion. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 EPS. On average, equities research analysts predict that Cisco Systems, Inc. will post 3.4 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Thursday, April 2nd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s dividend payout ratio is presently 58.95%.

About Cisco Systems

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.