Davidson Trust Co. Grows Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Davidson Trust Co. raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,624 shares of the network equipment provider’s stock after purchasing an additional 1,035 shares during the period. Davidson Trust Co.’s holdings in Cisco Systems were worth $688,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealthspire Advisors LLC lifted its stake in Cisco Systems by 48.1% in the 3rd quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock worth $3,838,000 after acquiring an additional 23,194 shares in the last quarter. HBK Sorce Advisory LLC increased its holdings in shares of Cisco Systems by 0.5% during the 3rd quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock valued at $3,448,000 after acquiring an additional 301 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in Cisco Systems in the 4th quarter valued at approximately $28,685,000. Adage Capital Partners GP L.L.C. grew its holdings in shares of Cisco Systems by 1.1% during the 3rd 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 in the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC lifted its position in shares of Cisco Systems by 0.6% during the 4th quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock worth $9,734,000 after buying an additional 1,097 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CSCO. Melius downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $55.00 to $60.00 in a report on Monday. Citigroup assumed coverage on Cisco Systems in a research report on Friday, April 12th. They issued a “neutral” rating and a $52.00 target price on the stock. Piper Sandler raised their price objective on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $56.03.

Insider Activity

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares in the company, valued at approximately $9,579,865.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,441 shares of company stock worth $972,080. Insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded up $0.10 during trading on Friday, hitting $48.21. The stock had a trading volume of 5,346,087 shares, compared to its average volume of 19,301,979. The firm has a market cap of $195.21 billion, a price-to-earnings ratio of 14.65, a P/E/G ratio of 2.74 and a beta of 0.87. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. The business’s 50-day moving average is $49.11 and its 200 day moving average is $50.29.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data 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 firm 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 company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period last year, the firm earned $0.76 earnings per share. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.32%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is 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.