Austin Private Wealth LLC Acquires 573 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Austin Private Wealth LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,217 shares of the network equipment provider’s stock after buying an additional 573 shares during the quarter. Austin Private Wealth LLC’s holdings in Cisco Systems were worth $365,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Wealthspire Advisors LLC boosted its holdings in Cisco Systems by 48.1% during the third quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock worth $3,838,000 after buying an additional 23,194 shares during the last quarter. HBK Sorce Advisory LLC increased its stake in Cisco Systems by 0.5% in the third quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock valued at $3,448,000 after purchasing an additional 301 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Cisco Systems by 1.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock worth $240,335,000 after purchasing an additional 49,700 shares during the period. Waverly Advisors LLC boosted its position in shares of Cisco Systems by 140.8% during the third quarter. Waverly Advisors LLC now owns 46,753 shares of the network equipment provider’s stock worth $2,513,000 after purchasing an additional 27,337 shares in the last quarter. Finally, GHE LLC grew its holdings in shares of Cisco Systems by 0.9% in the 3rd quarter. GHE LLC now owns 34,431 shares of the network equipment provider’s stock valued at $1,851,000 after buying an additional 292 shares during the period. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CSCO. Melius lowered Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Barclays increased their target price on Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Piper Sandler lifted their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Melius Research reissued a “hold” rating and set a $55.00 price objective on shares of Cisco Systems in a research report on Monday, January 8th. Finally, UBS Group boosted their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.42.

Cisco Systems Stock Performance

CSCO opened at $49.91 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The business’s 50-day simple moving average is $49.77 and its 200 day simple moving average is $50.93. The firm has a market capitalization of $202.10 billion, a PE ratio of 15.17, a PEG ratio of 2.25 and a beta of 0.87. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The business had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 earnings per share. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.16 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.21%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio (DPR) is presently 47.42%.

Insiders Place Their Bets

In other news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction dated Monday, March 11th. The shares were 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 of the company’s stock, valued at $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The stock was 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 of the company’s stock, valued at approximately $2,906,050. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock valued at $972,080 over the last 90 days. 0.02% of the stock is currently owned by 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.