Colonial River Wealth Management LLC Boosts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Colonial River Wealth Management LLC grew its position in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 52.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,479 shares of the network equipment provider’s stock after purchasing an additional 5,700 shares during the quarter. Colonial River Wealth Management LLC’s holdings in Cisco Systems were worth $833,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. State Street Corp boosted its stake in Cisco Systems by 1.4% in the 2nd quarter. State Street Corp now owns 187,505,879 shares of the network equipment provider’s stock worth $9,701,554,000 after purchasing an additional 2,626,429 shares in the last quarter. Morgan Stanley lifted its stake in shares of Cisco Systems by 17.4% during the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock worth $2,943,593,000 after buying an additional 9,160,347 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in shares of Cisco Systems by 112,307.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock valued at $2,835,509,000 after buying an additional 59,466,550 shares during the last quarter. FMR LLC raised its stake in Cisco Systems by 3.2% in the 3rd quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock worth $3,069,815,000 after acquiring an additional 1,790,717 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Cisco Systems by 6.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock worth $2,975,139,000 after acquiring an additional 3,087,294 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Trading Down 1.4 %

Shares of Cisco Systems stock traded down $0.68 during trading hours on Tuesday, hitting $49.36. The company’s stock had a trading volume of 16,407,502 shares, compared to its average volume of 19,797,893. The stock has a market cap of $199.87 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 2.26 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. The firm has a fifty day moving average of $49.70 and a 200-day moving average of $50.75.

Cisco Systems (NASDAQ:CSCOGet Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the business posted $0.76 EPS. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. Research analysts forecast that Cisco Systems, Inc. will post 3.16 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.24%. The ex-dividend date is Wednesday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio (DPR) is currently 47.42%.

Insider Activity at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the transaction, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the transaction, the executive vice president now owns 191,559 shares in the company, valued at $9,579,865.59. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,441 shares of company stock worth $972,080. Company insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Barclays upped their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. UBS Group upped their target price on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Wells Fargo & Company assumed coverage on Cisco Systems in a research report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price target for the company. Finally, Piper Sandler upped their price objective on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $56.42.

Check Out Our Latest Analysis on CSCO

Cisco Systems Profile

(Free Report)

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.

See Also

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

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