State of Wyoming Acquires 3,333 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Posted by Defense World Staff on Jun 15th, 2023

State of Wyoming raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 26.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,759 shares of the network equipment provider’s stock after acquiring an additional 3,333 shares during the quarter. Cisco Systems comprises 0.2% of State of Wyoming’s portfolio, making the stock its 20th largest position. State of Wyoming’s holdings in Cisco Systems were worth $751,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Cisco Systems by 1.5% in the third quarter. Vanguard Group Inc. now owns 377,757,324 shares of the network equipment provider’s stock valued at $15,110,293,000 after buying an additional 5,586,273 shares during the period. Geode Capital Management LLC raised its position in shares of Cisco Systems by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 76,736,984 shares of the network equipment provider’s stock valued at $3,649,867,000 after acquiring an additional 750,247 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Cisco Systems by 5.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 70,560,539 shares of the network equipment provider’s stock worth $3,331,344,000 after acquiring an additional 3,841,840 shares during the last quarter. Morgan Stanley grew its holdings in Cisco Systems by 17.4% during the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock valued at $2,943,593,000 after purchasing an additional 9,160,347 shares during the period. Finally, Moneta Group Investment Advisors LLC increased its stake in Cisco Systems by 112,307.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock valued at $2,835,509,000 after purchasing an additional 59,466,550 shares in the last quarter. Institutional investors and hedge funds own 71.10% of the company’s stock.

Cisco Systems Price Performance

Cisco Systems stock opened at $50.96 on Thursday. The company has a market capitalization of $207.66 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 2.26 and a beta of 1.01. The stock’s 50 day moving average is $48.64 and its 200-day moving average is $48.75. The company has a current ratio of 1.39, a quick ratio of 1.27 and a debt-to-equity ratio of 0.16. Cisco Systems, Inc. has a 12 month low of $38.60 and a 12 month high of $52.56.

Cisco Systems (NASDAQ:CSCO – Get Rating) last posted its quarterly earnings data on Wednesday, May 17th. The network equipment provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The firm had revenue of $14.57 billion during the quarter, compared to the consensus estimate of $14.36 billion. Cisco Systems had a net margin of 20.89% and a return on equity of 31.66%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS. Equities research analysts expect that Cisco Systems, Inc. will post 3.38 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Thursday, July 6th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Wednesday, July 5th. Cisco Systems’s dividend payout ratio is currently 56.12%.

Insider Activity

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,142 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $48.50, for a total transaction of $103,887.00. Following the completion of the transaction, the executive vice president now directly owns 179,378 shares in the company, valued at $8,699,833. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Deborah L. Stahlkopf sold 2,142 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $48.50, for a total transaction of $103,887.00. Following the completion of the transaction, the executive vice president now directly owns 179,378 shares in the company, valued at approximately $8,699,833. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeffery S. Sharritts sold 5,175 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $49.11, for a total transaction of $254,144.25. Following the completion of the sale, the executive vice president now owns 259,893 shares in the company, valued at approximately $12,763,345.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,514 shares of company stock worth $814,108. 0.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on CSCO. DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Friday, February 17th. StockNews.com downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 7th. Raymond James increased their price objective on Cisco Systems from $63.00 to $64.00 in a report on Thursday, May 18th. JPMorgan Chase & Co. raised their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, February 16th. Finally, Wells Fargo & Company boosted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average price target of $56.52.

About Cisco Systems

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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.