Cullen Frost Bankers Inc. Buys 9,338 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Cullen Frost Bankers Inc. lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 548,554 shares of the network equipment provider’s stock after acquiring an additional 9,338 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Cisco Systems were worth $27,713,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Evexia Wealth LLC lifted its holdings in shares of Cisco Systems by 4.3% during the fourth quarter. Evexia Wealth LLC now owns 98,457 shares of the network equipment provider’s stock worth $4,941,000 after purchasing an additional 4,095 shares during the period. EdgeRock Capital LLC lifted its holdings in shares of Cisco Systems by 14.8% during the fourth quarter. EdgeRock Capital LLC now owns 4,512 shares of the network equipment provider’s stock worth $226,000 after purchasing an additional 582 shares during the period. Hyman Charles D lifted its holdings in shares of Cisco Systems by 0.3% during the fourth quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock worth $3,573,000 after purchasing an additional 203 shares during the period. Everpar Advisors LLC acquired a new position in shares of Cisco Systems during the fourth quarter worth $1,850,000. Finally, Gryphon Financial Partners LLC lifted its holdings in shares of Cisco Systems by 104.2% during the fourth quarter. Gryphon Financial Partners LLC now owns 23,064 shares of the network equipment provider’s stock worth $1,177,000 after purchasing an additional 11,767 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CSCO. JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target on the stock. Melius Research restated a “hold” rating and issued a $55.00 target price on shares of Cisco Systems in a report on Monday, January 8th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. Piper Sandler boosted their target price 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. Finally, Morgan Stanley began coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price on the stock. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $55.53.

Cisco Systems Stock Up 0.4 %

CSCO stock traded up $0.17 during trading on Tuesday, reaching $47.28. The stock had a trading volume of 13,974,175 shares, compared to its average volume of 19,064,670. Cisco Systems, Inc. has a one year low of $45.70 and a one year high of $58.19. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $48.75 and its two-hundred day moving average is $49.69. The company has a market capitalization of $191.45 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 2.72 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The business had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 EPS. Equities research analysts forecast that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.38%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date was Wednesday, April 3rd. Cisco Systems’s payout ratio is presently 48.63%.

Insider Buying and Selling at Cisco Systems

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

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.