Addenda Capital Inc. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 119,695 shares of the network equipment provider’s stock after selling 1,554 shares during the period. Addenda Capital Inc.’s holdings in Cisco Systems were worth $5,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently added to or reduced their stakes in the business. Smith Chas P & Associates PA Cpas boosted its holdings in Cisco Systems by 1.5% in the fourth quarter. Smith Chas P & Associates PA Cpas now owns 1,008,481 shares of the network equipment provider’s stock worth $48,044,000 after purchasing an additional 15,109 shares during the period. Bremer Bank National Association boosted its holdings in shares of Cisco Systems by 54.1% during the fourth quarter. Bremer Bank National Association now owns 53,547 shares of the network equipment provider’s stock valued at $2,551,000 after acquiring an additional 18,806 shares during the period. KMG Fiduciary Partners LLC boosted its holdings in shares of Cisco Systems by 5.0% during the fourth quarter. KMG Fiduciary Partners LLC now owns 81,825 shares of the network equipment provider’s stock valued at $3,898,000 after acquiring an additional 3,903 shares during the period. Bath Savings Trust Co boosted its holdings in shares of Cisco Systems by 1.5% during the fourth quarter. Bath Savings Trust Co now owns 21,643 shares of the network equipment provider’s stock valued at $1,031,000 after acquiring an additional 323 shares during the period. Finally, Pacifica Partners Inc. boosted its holdings in shares of Cisco Systems by 4.0% during the fourth quarter. Pacifica Partners Inc. now owns 34,145 shares of the network equipment provider’s stock valued at $1,625,000 after acquiring an additional 1,323 shares during the period. Institutional investors and hedge funds own 71.10% of the company’s stock.
Cisco Systems Price Performance
Shares of Cisco Systems stock opened at $50.94 on Tuesday. The company’s 50-day moving average price is $48.64 and its two-hundred day moving average price is $46.38. The company has a current ratio of 1.41, a quick ratio of 1.30 and a debt-to-equity ratio of 0.18. The stock has a market cap of $208.64 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 2.31 and a beta of 1.00. Cisco Systems, Inc. has a 52 week low of $38.60 and a 52 week high of $56.94.
Cisco Systems (NASDAQ:CSCO – Get Rating) last posted its quarterly earnings data on Wednesday, February 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.12. The firm had revenue of $13.59 billion for the quarter, compared to the consensus estimate of $13.41 billion. Cisco Systems had a return on equity of 31.19% and a net margin of 21.26%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 EPS. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.34 EPS for the current fiscal year.
Cisco Systems Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 26th. Shareholders of record on Wednesday, April 5th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.06%. The ex-dividend date is Tuesday, April 4th. This is an increase from Cisco Systems’s previous quarterly dividend of $0.38. Cisco Systems’s payout ratio is presently 55.68%.
Insiders Place Their Bets
In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 23,701 shares of the business’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $50.90, for a total transaction of $1,206,380.90. Following the sale, the executive vice president now owns 184,853 shares in the company, valued at approximately $9,409,017.70. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Cisco Systems news, CEO Charles Robbins sold 20,117 shares of Cisco Systems stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $49.08, for a total transaction of $987,342.36. Following the transaction, the chief executive officer now owns 798,970 shares of the company’s stock, valued at approximately $39,213,447.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 23,701 shares of Cisco Systems stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $50.90, for a total value of $1,206,380.90. Following the transaction, the executive vice president now directly owns 184,853 shares in the company, valued at approximately $9,409,017.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,568 shares of company stock worth $2,376,624. Company insiders own 0.02% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on CSCO shares. Wells Fargo & Company boosted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, February 16th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cisco Systems from $52.00 to $55.00 and gave the company a “hold” rating in a report on Wednesday, February 22nd. Tigress Financial restated a “buy” rating and set a $73.00 price objective on shares of Cisco Systems in a research note on Friday. Piper Sandler lifted their price objective on shares of Cisco Systems from $49.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, February 16th. Finally, Cowen lifted their price objective on shares of Cisco Systems from $61.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, February 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus price target of $56.38.
About Cisco Systems
Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.
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