Wellington Shields & Co. LLC Has $1.03 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Posted by Defense World Staff on Jun 15th, 2023

Wellington Shields & Co. LLC lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,604 shares of the network equipment provider’s stock after buying an additional 1,510 shares during the period. Wellington Shields & Co. LLC’s holdings in Cisco Systems were worth $1,029,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CSCO. Allred Capital Management LLC boosted its position in Cisco Systems by 3.5% during the fourth quarter. Allred Capital Management LLC now owns 15,925 shares of the network equipment provider’s stock valued at $759,000 after purchasing an additional 538 shares during the last quarter. Renaissance Group LLC lifted its position in shares of Cisco Systems by 1.2% in the third quarter. Renaissance Group LLC now owns 21,616 shares of the network equipment provider’s stock valued at $865,000 after buying an additional 248 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Cisco Systems by 1.3% in the third quarter. Gamco Investors INC. ET AL now owns 19,873 shares of the network equipment provider’s stock valued at $795,000 after buying an additional 250 shares during the last quarter. CENTRAL TRUST Co lifted its position in shares of Cisco Systems by 10.9% in the third quarter. CENTRAL TRUST Co now owns 131,164 shares of the network equipment provider’s stock valued at $5,247,000 after buying an additional 12,848 shares during the last quarter. Finally, Marshall Financial Group LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $1,647,000. 71.10% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Price Performance

Cisco Systems stock opened at $50.96 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.27 and a current ratio of 1.39. Cisco Systems, Inc. has a 52 week low of $38.60 and a 52 week high of $52.56. The stock has a market capitalization of $207.66 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 2.26 and a beta of 1.01. The stock has a fifty day moving average of $48.64 and a 200-day moving average of $48.75.

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

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Thursday, July 6th will be issued a dividend of $0.39 per share. 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 (DPR) is 56.12%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CSCO shares. Cowen raised their price objective on Cisco Systems from $61.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, February 16th. StockNews.com cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 7th. UBS Group raised their price objective on Cisco Systems from $48.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, February 16th. Morgan Stanley increased their target price on Cisco Systems from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 16th. Finally, Tigress Financial reiterated a “buy” rating and set a $73.00 target price on shares of Cisco Systems in a research note on Friday, March 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $56.52.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, Director Kristina M. Johnson sold 2,880 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $49.21, for a total transaction of $141,724.80. Following the completion of the transaction, the director now directly owns 65,838 shares of the company’s stock, valued at $3,239,887.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Cisco Systems news, EVP Jeffery S. Sharritts sold 5,175 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $49.11, for a total value of $254,144.25. Following the completion of the transaction, the executive vice president now directly owns 259,893 shares of the company’s stock, valued at approximately $12,763,345.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kristina M. Johnson sold 2,880 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $49.21, for a total transaction of $141,724.80. Following the transaction, the director now owns 65,838 shares of the company’s stock, valued at $3,239,887.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,514 shares of company stock valued at $814,108. Company insiders own 0.02% of the company’s stock.

Cisco Systems Company Profile

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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.