Wagner Wealth Management LLC Purchases Shares of 5,059 Cisco Systems, Inc. (NASDAQ:CSCO)

Wagner Wealth Management LLC acquired a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 5,059 shares of the network equipment provider’s stock, valued at approximately $299,000.

Several other institutional investors have also modified their holdings of CSCO. Morse Asset Management Inc acquired a new position in shares of Cisco Systems in the 3rd quarter worth approximately $798,000. HighVista Strategies LLC acquired a new position in Cisco Systems in the third quarter worth approximately $1,698,000. GAMMA Investing LLC increased its holdings in shares of Cisco Systems by 13.1% in the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after buying an additional 10,813 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Cisco Systems during the 3rd quarter valued at $502,000. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in shares of Cisco Systems by 10.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after acquiring an additional 162,544 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. 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 report on Thursday, November 14th. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a research report on Tuesday, January 28th. Morgan Stanley upped their price target 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. 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 research note on Thursday, November 14th. Finally, Citigroup raised their target price on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average target price of $62.72.

Cisco Systems Stock Performance

Shares of CSCO opened at $62.27 on Monday. The company has a market capitalization of $248.01 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 4.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $63.25. The company’s fifty day moving average price is $59.71 and its 200 day moving average price is $55.04.

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

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.57%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.

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.