Buckley Wealth Management LLC Buys 4,890 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Buckley Wealth Management LLC raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 164,630 shares of the network equipment provider’s stock after acquiring an additional 4,890 shares during the period. Cisco Systems makes up approximately 2.9% of Buckley Wealth Management LLC’s holdings, making the stock its 11th largest holding. Buckley Wealth Management LLC’s holdings in Cisco Systems were worth $8,317,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Wealthspire Advisors LLC lifted its holdings in shares of Cisco Systems by 48.1% during the 3rd quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock worth $3,838,000 after acquiring an additional 23,194 shares during the period. HBK Sorce Advisory LLC lifted its holdings in shares of Cisco Systems by 0.5% during the 3rd quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock worth $3,448,000 after acquiring an additional 301 shares during the period. Adage Capital Partners GP L.L.C. lifted its holdings in Cisco Systems by 1.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock valued at $240,335,000 after purchasing an additional 49,700 shares during the last quarter. Waverly Advisors LLC lifted its holdings in Cisco Systems by 140.8% during the 3rd quarter. Waverly Advisors LLC now owns 46,753 shares of the network equipment provider’s stock valued at $2,513,000 after purchasing an additional 27,337 shares during the last quarter. Finally, GHE LLC lifted its holdings in Cisco Systems by 0.9% during the 3rd quarter. GHE LLC now owns 34,431 shares of the network equipment provider’s stock valued at $1,851,000 after purchasing an additional 292 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several analyst reports. Melius Research reissued a “hold” rating and set a $55.00 price target on shares of Cisco Systems in a report on Monday, January 8th. Piper Sandler lifted their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. UBS Group raised their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Wells Fargo & Company began coverage on shares of Cisco Systems in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price objective for the company. Finally, Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and a consensus price target of $56.42.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at $16,424,550. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Trading Up 0.4 %

Cisco Systems stock traded up $0.22 during midday trading on Wednesday, hitting $49.77. 17,230,482 shares of the stock were exchanged, compared to its average volume of 19,896,768. The company has a fifty day simple moving average of $49.78 and a two-hundred day simple moving average of $50.94. Cisco Systems, Inc. has a 52 week low of $45.56 and a 52 week high of $58.19. The stock has a market capitalization of $201.53 billion, a PE ratio of 15.08, a P/E/G ratio of 2.25 and a beta of 0.87. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. During the same quarter in the previous year, the firm posted $0.76 earnings per share. The business’s revenue was down 5.9% on a year-over-year basis. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.16 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.21%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is presently 47.42%.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.