Berry Wealth Group LP Acquires New Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Berry Wealth Group LP acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 63,434 shares of the network equipment provider’s stock, valued at approximately $3,205,000. Cisco Systems comprises approximately 2.9% of Berry Wealth Group LP’s portfolio, making the stock its 16th largest position.

A number of other large investors have also recently added to or reduced their stakes in CSCO. Townsend Asset Management Corp NC ADV purchased a new position in shares of Cisco Systems during the 3rd quarter worth about $202,000. Fulton Breakefield Broenniman LLC increased its position in Cisco Systems by 37.1% during the 3rd quarter. Fulton Breakefield Broenniman LLC now owns 15,420 shares of the network equipment provider’s stock worth $829,000 after purchasing an additional 4,170 shares in the last quarter. Bill Few Associates Inc. increased its position in Cisco Systems by 2.8% during the 3rd quarter. Bill Few Associates Inc. now owns 13,947 shares of the network equipment provider’s stock worth $750,000 after purchasing an additional 377 shares in the last quarter. Lodestone Wealth Management LLC increased its position in Cisco Systems by 0.6% during the 3rd quarter. Lodestone Wealth Management LLC now owns 36,587 shares of the network equipment provider’s stock worth $1,967,000 after purchasing an additional 205 shares in the last quarter. Finally, Brookstone Capital Management increased its position in Cisco Systems by 29.9% during the 3rd quarter. Brookstone Capital Management now owns 41,196 shares of the network equipment provider’s stock worth $2,197,000 after purchasing an additional 9,481 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on CSCO. Melius downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Tuesday, April 9th. Wells Fargo & Company assumed coverage on shares of Cisco Systems in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price objective for the company. Citigroup assumed coverage on shares of Cisco Systems in a research report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price objective for the company. Finally, Piper Sandler increased 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. 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. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Hold” and an average price target of $55.53.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now directly 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 the SEC website. In related news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now directly 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 the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock worth $972,080 over the last ninety days. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Performance

CSCO stock traded up $0.20 during mid-day trading on Wednesday, reaching $47.18. The company had a trading volume of 5,306,254 shares, compared to its average volume of 19,079,242. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $191.04 billion, a P/E ratio of 14.28, a P/E/G ratio of 2.76 and a beta of 0.87. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19. The stock’s 50-day simple moving average is $48.90 and its two-hundred day simple moving average is $49.92.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the business posted $0.76 earnings per share. Research analysts anticipate that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

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

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.