Institute for Wealth Management LLC. Raises Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Institute for Wealth Management LLC. boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,268 shares of the network equipment provider’s stock after acquiring an additional 416 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Cisco Systems were worth $1,200,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CSCO. Quarry LP lifted its holdings in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares in the last quarter. West Financial Advisors LLC raised its stake in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares in the last quarter. Highline Wealth Partners LLC boosted its holdings in shares of Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares during the period. RPg Family Wealth Advisory LLC bought a new position in Cisco Systems in the third quarter worth approximately $40,000. Finally, Decker Retirement Planning Inc. purchased a new position in Cisco Systems during the 4th quarter worth $49,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 1.5 %

Shares of Cisco Systems stock opened at $60.47 on Friday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $62.31. The firm’s 50-day moving average price is $59.34 and its 200 day moving average price is $54.35. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $240.84 billion, a PE ratio of 25.95, a P/E/G ratio of 4.43 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. On average, sell-side analysts predict 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 was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.65%. Cisco Systems’s payout ratio is presently 68.67%.

Insider Activity at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 86,351 shares of Cisco Systems stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the transaction, the chief financial officer now directly owns 365,314 shares of the company’s stock, valued at $21,001,901.86. The trade was a 19.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 353,522 shares of company stock valued at $20,349,721. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of recent research reports. Citigroup increased their price target on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Morgan Stanley raised their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Tuesday. Finally, Piper Sandler increased their target price on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.72.

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.