Brave Asset Management Inc. Acquires 636 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Posted by Defense World Staff on Jun 23rd, 2023

Brave Asset Management Inc. lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,098 shares of the network equipment provider’s stock after buying an additional 636 shares during the quarter. Brave Asset Management Inc.’s holdings in Cisco Systems were worth $1,103,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allred Capital Management LLC grew its stake in shares of Cisco Systems by 3.5% in the fourth quarter. Allred Capital Management LLC now owns 15,925 shares of the network equipment provider’s stock valued at $759,000 after buying an additional 538 shares in the last quarter. CENTRAL TRUST Co lifted its holdings in Cisco Systems by 10.9% during the 3rd quarter. CENTRAL TRUST Co now owns 131,164 shares of the network equipment provider’s stock valued at $5,247,000 after purchasing an additional 12,848 shares during the last quarter. Marshall Financial Group LLC acquired a new stake in Cisco Systems during the 4th quarter valued at $1,647,000. Angeles Investment Advisors LLC acquired a new stake in Cisco Systems during the 4th quarter valued at $337,000. Finally, Birch Capital Management LLC lifted its holdings in Cisco Systems by 51.3% during the 1st quarter. Birch Capital Management LLC now owns 64,705 shares of the network equipment provider’s stock valued at $3,382,000 after purchasing an additional 21,935 shares during the last quarter. 71.96% of the stock is owned by institutional investors.

Cisco Systems Stock Performance

Cisco Systems stock opened at $51.12 on Friday. Cisco Systems, Inc. has a 12-month low of $38.60 and a 12-month high of $52.56. The company has a quick ratio of 1.27, a current ratio of 1.39 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average price is $48.73 and its two-hundred day moving average price is $48.85. The stock has a market cap of $208.32 billion, a PE ratio of 18.39, a P/E/G ratio of 2.37 and a beta of 1.01.

Cisco Systems (NASDAQ:CSCO – Get Rating) last released its earnings results 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. Cisco Systems had a return on equity of 31.66% and a net margin of 20.89%. The firm had revenue of $14.57 billion for the quarter, compared to analysts’ expectations of $14.36 billion. During the same quarter in the previous year, the business posted $0.78 earnings per share. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. As a group, analysts expect that Cisco Systems, Inc. will post 3.38 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Thursday, July 6th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Wednesday, July 5th. Cisco Systems’s dividend payout ratio is presently 56.12%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CSCO shares. Deutsche Bank Aktiengesellschaft cut their price target on Cisco Systems from $55.00 to $54.00 in a report on Monday, May 22nd. The Goldman Sachs Group started coverage on Cisco Systems in a report on Monday, March 6th. They set a “neutral” rating for the company. Piper Sandler cut their price target on Cisco Systems from $53.00 to $51.00 in a report on Thursday, May 18th. Barclays dropped their target price on Cisco Systems from $52.00 to $51.00 in a report on Thursday, May 18th. Finally, StockNews.com downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.52.

Insider Transactions at Cisco Systems

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

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.