Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Livingston Group Asset Management CO operating as Southport Capital Management


Share on StockTwits

Livingston Group Asset Management CO operating as Southport Capital Management increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,874 shares of the network equipment provider’s stock after purchasing an additional 472 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Cisco Systems were worth $2,098,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Edgar Lomax Co. VA raised its holdings in Cisco Systems by 3.6% in the 3rd quarter. Edgar Lomax Co. VA now owns 1,659,973 shares of the network equipment provider’s stock valued at $65,386,000 after acquiring an additional 57,050 shares during the last quarter. Summit Financial Group Inc. grew its stake in shares of Cisco Systems by 0.8% during the 4th quarter. Summit Financial Group Inc. now owns 34,251 shares of the network equipment provider’s stock valued at $1,533,000 after buying an additional 255 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of Cisco Systems by 17.9% during the 3rd quarter. Louisiana State Employees Retirement System now owns 215,000 shares of the network equipment provider’s stock valued at $8,469,000 after buying an additional 32,700 shares during the period. Red Door Wealth Management LLC grew its stake in shares of Cisco Systems by 5.4% during the 4th quarter. Red Door Wealth Management LLC now owns 47,093 shares of the network equipment provider’s stock valued at $2,107,000 after buying an additional 2,393 shares during the period. Finally, AXA S.A. grew its stake in shares of Cisco Systems by 0.7% during the 3rd quarter. AXA S.A. now owns 3,161,407 shares of the network equipment provider’s stock valued at $124,528,000 after buying an additional 22,374 shares during the period. Hedge funds and other institutional investors own 70.62% of the company’s stock.

Several analysts have recently issued reports on the stock. Credit Suisse Group boosted their price objective on shares of Cisco Systems from $36.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, November 13th. The Goldman Sachs Group set a $45.00 price objective on shares of Cisco Systems and gave the company a “neutral” rating in a research note on Friday, November 13th. Bank of America lowered their price objective on shares of Cisco Systems from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, September 16th. Piper Sandler boosted their price objective on shares of Cisco Systems from $44.00 to $45.00 in a research note on Friday, November 13th. Finally, New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Friday, November 13th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company. Cisco Systems currently has an average rating of “Hold” and a consensus target price of $47.54.

In related news, CAO Prat Bhatt sold 21,146 shares of the stock in a transaction dated Tuesday, November 24th. The shares were sold at an average price of $42.38, for a total transaction of $896,167.48. Following the sale, the chief accounting officer now owns 144,839 shares in the company, valued at $6,138,276.82. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Irving Tan sold 47,887 shares of the stock in a transaction dated Tuesday, November 17th. The stock was sold at an average price of $42.09, for a total transaction of $2,015,563.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 371,384 shares of company stock worth $15,429,225. Company insiders own 0.02% of the company’s stock.

CSCO stock traded down $0.44 during trading on Wednesday, reaching $45.35. The stock had a trading volume of 845,428 shares, compared to its average volume of 21,190,596. Cisco Systems, Inc. has a 1-year low of $32.40 and a 1-year high of $50.28. The company has a current ratio of 1.59, a quick ratio of 1.54 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $191.63 billion, a P/E ratio of 18.61, a PEG ratio of 2.52 and a beta of 0.95. The firm has a fifty day moving average price of $44.35 and a 200 day moving average price of $42.60.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Thursday, November 12th. The network equipment provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $11.93 billion for the quarter, compared to analyst estimates of $11.85 billion. Cisco Systems had a net margin of 21.76% and a return on equity of 32.64%. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 EPS. Sell-side analysts predict that Cisco Systems, Inc. will post 2.86 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 20th. Stockholders of record on Tuesday, January 5th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, January 4th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.18%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.32%.

Cisco Systems Profile

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

Recommended Story: Why do companies issue convertible shares?

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.