7,090 Shares in Cisco Systems, Inc. $CSCO Acquired by Morse Asset Management Inc

Morse Asset Management Inc acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,090 shares of the network equipment provider’s stock, valued at approximately $546,000.

A number of other institutional investors have also added to or reduced their stakes in CSCO. Marquette Asset Management LLC acquired a new position in Cisco Systems during the 3rd quarter worth approximately $25,000. Board of the Pension Protection Fund bought a new stake in Cisco Systems during the 4th quarter worth approximately $31,000. EQ Wealth Advisors LLC bought a new stake in Cisco Systems during the 4th quarter worth approximately $31,000. Cedar Mountain Advisors LLC grew its holdings in Cisco Systems by 115.7% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider’s stock worth $32,000 after acquiring an additional 251 shares during the last quarter. Finally, Joseph Group Capital Management bought a new stake in Cisco Systems during the 4th quarter worth approximately $38,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Up 0.8%

Shares of NASDAQ CSCO opened at $92.63 on Tuesday. The firm has a market cap of $365.88 billion, a PE ratio of 32.50, a P/E/G ratio of 3.46 and a beta of 0.92. Cisco Systems, Inc. has a 12-month low of $58.58 and a 12-month high of $93.10. The company’s fifty day simple moving average is $81.46 and its 200 day simple moving average is $78.07. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.02. The business had revenue of $15.35 billion for the quarter, compared to analyst estimates of $15.11 billion. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. Cisco Systems’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 earnings per share. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.4 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd were issued a dividend of $0.42 per share. The ex-dividend date was Thursday, April 2nd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a yield of 1.8%. Cisco Systems’s dividend payout ratio is currently 58.95%.

Insider Activity

In other Cisco Systems news, insider Jeetendra I. Patel sold 11,248 shares of the company’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $76.00, for a total transaction of $854,848.00. Following the transaction, the insider owned 262,776 shares in the company, valued at approximately $19,970,976. This represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Oliver Tuszik sold 3,132 shares of the company’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $79.74, for a total transaction of $249,745.68. Following the transaction, the executive vice president owned 188,613 shares in the company, valued at approximately $15,040,000.62. The trade was a 1.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 46,431 shares of company stock valued at $3,574,820. 0.01% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. DZ Bank raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday, February 13th. BNP Paribas Exane boosted their target price on shares of Cisco Systems from $86.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Erste Group Bank lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. Evercore raised shares of Cisco Systems from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $80.00 to $100.00 in a report on Monday, January 26th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $100.00 target price on shares of Cisco Systems in a report on Thursday, February 12th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.81.

Cisco Systems Company Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.