Cascade Investment Group Inc. Takes Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Posted by Defense World Staff on Jun 17th, 2023

Cascade Investment Group Inc. purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,995 shares of the network equipment provider’s stock, valued at approximately $286,000.

Other large investors have also made changes to their positions in the company. Biltmore Wealth Management LLC purchased a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $1,058,950,000. Retirement Financial Solutions LLC purchased a new position in Cisco Systems in the fourth quarter worth approximately $25,000. Steward Financial Group LLC purchased a new position in Cisco Systems in the fourth quarter worth approximately $26,000. My Personal CFO LLC purchased a new position in Cisco Systems in the fourth quarter worth approximately $27,000. Finally, Fortis Capital Advisors LLC purchased a new position in Cisco Systems in the fourth quarter worth approximately $34,000. 71.10% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Up 0.3 %

Cisco Systems stock opened at $52.07 on Friday. The stock’s fifty day moving average is $48.67 and its two-hundred day moving average is $48.80. The stock has a market cap of $212.19 billion, a PE ratio of 18.73, a P/E/G ratio of 2.32 and a beta of 1.01. Cisco Systems, Inc. has a 1-year low of $38.60 and a 1-year high of $52.56. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.39 and a quick ratio of 1.27.

Cisco Systems (NASDAQ:CSCO – Get Rating) last posted its earnings results on Wednesday, May 17th. The network equipment provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.03. Cisco Systems had a return on equity of 31.66% and a net margin of 20.89%. The business had revenue of $14.57 billion during the quarter, compared to the consensus estimate of $14.36 billion. During the same period in the previous year, the business earned $0.78 EPS. The business’s quarterly 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 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Thursday, July 6th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Wednesday, July 5th. Cisco Systems’s payout ratio is currently 56.12%.

Insider Activity

In other news, Director Roderick C. Mcgeary sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $50.96, for a total value of $509,600.00. Following the completion of the sale, the director now directly owns 103,992 shares of the company’s stock, valued at approximately $5,299,432.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cisco Systems news, SVP Prat Bhatt sold 608 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $50.61, for a total transaction of $30,770.88. Following the transaction, the senior vice president now owns 45,092 shares in the company, valued at approximately $2,282,106.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roderick C. Mcgeary sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $50.96, for a total value of $509,600.00. Following the transaction, the director now owns 103,992 shares in the company, valued at approximately $5,299,432.32. The disclosure for this sale can be found here. In the last three months, insiders sold 26,514 shares of company stock valued at $1,323,708. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on CSCO shares. Deutsche Bank Aktiengesellschaft lowered their price objective on Cisco Systems from $55.00 to $54.00 in a research report on Monday, May 22nd. Barclays lowered their price objective on Cisco Systems from $52.00 to $51.00 in a research report on Thursday, May 18th. Raymond James raised their price target on Cisco Systems from $63.00 to $64.00 in a research report on Thursday, May 18th. StockNews.com lowered Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 7th. Finally, The Goldman Sachs Group began coverage on Cisco Systems in a research report on Monday, March 6th. They set a “neutral” rating for the company. One 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.52.

Cisco Systems 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.