Monterey Private Wealth Inc. Has $501,000 Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Monterey Private Wealth Inc. increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 8,471 shares of the network equipment provider’s stock after acquiring an additional 967 shares during the quarter. Monterey Private Wealth Inc.’s holdings in Cisco Systems were worth $501,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CSCO. Chesley Taft & Associates LLC raised its position in shares of Cisco Systems by 3.1% during the fourth quarter. Chesley Taft & Associates LLC now owns 17,567 shares of the network equipment provider’s stock worth $1,040,000 after acquiring an additional 532 shares during the last quarter. Clear Harbor Asset Management LLC increased its position in Cisco Systems by 11.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 13,301 shares of the network equipment provider’s stock valued at $787,000 after purchasing an additional 1,385 shares during the period. Perpetual Ltd raised its holdings in Cisco Systems by 4.5% during the 4th quarter. Perpetual Ltd now owns 38,721 shares of the network equipment provider’s stock worth $2,292,000 after purchasing an additional 1,670 shares during the last quarter. Charles Schwab Trust Co boosted its stake in shares of Cisco Systems by 7.1% in the 4th quarter. Charles Schwab Trust Co now owns 5,497 shares of the network equipment provider’s stock valued at $325,000 after purchasing an additional 364 shares during the last quarter. Finally, Aspiriant LLC increased its position in shares of Cisco Systems by 2.7% during the fourth quarter. Aspiriant LLC now owns 21,547 shares of the network equipment provider’s stock worth $1,276,000 after buying an additional 567 shares during the period. 73.33% of the stock is owned by institutional investors.

Cisco Systems Trading Up 0.7 %

Shares of CSCO opened at $60.23 on Tuesday. The business’s 50-day moving average price is $58.94 and its 200-day moving average price is $53.70. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $60.95. The stock has a market cap of $239.88 billion, a PE ratio of 25.85, a P/E/G ratio of 4.48 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 EPS. On average, equities analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.66%. Cisco Systems’s payout ratio is currently 68.67%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Bank of America upped their target price on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley boosted their price target on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Barclays raised their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company boosted their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $61.50.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 4,881 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the completion of the sale, the senior vice president now owns 51,931 shares of the company’s stock, valued at $3,101,838.63. The trade was a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 over the last three months. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Profile

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.