BOS Asset Management LLC purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 11,378 shares of the network equipment provider’s stock, valued at approximately $542,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vigilant Capital Management LLC grew its position in Cisco Systems by 1.7% during the fourth quarter. Vigilant Capital Management LLC now owns 12,294 shares of the network equipment provider’s stock valued at $586,000 after purchasing an additional 207 shares in the last quarter. Howland Capital Management LLC grew its position in Cisco Systems by 1.4% during the fourth quarter. Howland Capital Management LLC now owns 14,824 shares of the network equipment provider’s stock valued at $706,000 after purchasing an additional 208 shares in the last quarter. MADDEN SECURITIES Corp grew its position in Cisco Systems by 3.6% during the fourth quarter. MADDEN SECURITIES Corp now owns 5,976 shares of the network equipment provider’s stock valued at $285,000 after purchasing an additional 210 shares in the last quarter. Dearborn Partners LLC grew its position in Cisco Systems by 0.5% during the third quarter. Dearborn Partners LLC now owns 46,849 shares of the network equipment provider’s stock valued at $1,874,000 after purchasing an additional 212 shares in the last quarter. Finally, Waddell & Associates LLC grew its position in Cisco Systems by 0.9% during the fourth quarter. Waddell & Associates LLC now owns 24,527 shares of the network equipment provider’s stock valued at $1,168,000 after purchasing an additional 213 shares in the last quarter. 71.10% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, Director Kristina M. Johnson sold 2,880 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $49.21, for a total value of $141,724.80. Following the completion of the transaction, the director now owns 65,838 shares in the company, valued at approximately $3,239,887.98. The sale was disclosed in a filing with the SEC, which is available at this link. In other Cisco Systems news, SVP Prat Bhatt sold 2,707 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $48.50, for a total transaction of $131,289.50. Following the sale, the senior vice president now owns 46,022 shares of the company’s stock, valued at approximately $2,232,067. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kristina M. Johnson sold 2,880 shares of the stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $49.21, for a total transaction of $141,724.80. Following the sale, the director now directly owns 65,838 shares in the company, valued at approximately $3,239,887.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,512 shares of company stock worth $661,816. 0.02% of the stock is currently owned by corporate insiders.
Cisco Systems Price Performance
Cisco Systems (NASDAQ:CSCO – Get Rating) last released its earnings results on Wednesday, May 17th. The network equipment provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.97 by $0.03. The firm had revenue of $14.57 billion during the quarter, compared to analysts’ expectations of $14.36 billion. Cisco Systems had a net margin of 20.89% and a return on equity of 31.66%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 EPS. Analysts anticipate that Cisco Systems, Inc. will post 3.38 earnings per share for the current year.
Cisco Systems Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Thursday, July 6th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Wednesday, July 5th. Cisco Systems’s dividend payout ratio is 56.12%.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on CSCO shares. Credit Suisse Group boosted their price objective on shares of Cisco Systems from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Thursday, February 16th. Morgan Stanley boosted their target price on shares of Cisco Systems from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 16th. Piper Sandler decreased their target price on shares of Cisco Systems from $53.00 to $51.00 in a research report on Thursday, May 18th. JPMorgan Chase & Co. boosted their target price on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, February 16th. Finally, Tigress Financial reissued a “buy” rating and issued a $73.00 target price on shares of Cisco Systems in a research report on Friday, March 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and a consensus target price of $56.52.
Cisco Systems Company Profile
Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.
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