EdgeRock Capital LLC Acquires 582 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

EdgeRock Capital LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 14.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,512 shares of the network equipment provider’s stock after purchasing an additional 582 shares during the period. EdgeRock Capital LLC’s holdings in Cisco Systems were worth $226,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CSCO. Valued Wealth Advisors LLC bought a new position in Cisco Systems in the fourth quarter worth approximately $32,000. DiNuzzo Private Wealth Inc. bought a new position in Cisco Systems in the fourth quarter worth approximately $33,000. Morton Brown Family Wealth LLC boosted its holdings in Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 208 shares in the last quarter. Bourgeon Capital Management LLC boosted its holdings in Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 700 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new position in Cisco Systems in the fourth quarter worth approximately $43,000. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems 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 $2,906,050. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated 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 approximately $16,424,550. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were 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 disclosure for this sale can be found here. Over the last quarter, insiders have 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 recently commented on CSCO shares. Melius Research reissued a “hold” rating and issued a $55.00 price objective on shares of Cisco Systems in a research note on Monday, January 8th. Piper Sandler increased their price objective on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $55.00 to $60.00 in a research note on Monday, April 15th. Deutsche Bank Aktiengesellschaft increased their price objective on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. initiated coverage on Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target for the company. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $55.53.

Cisco Systems Price Performance

CSCO stock traded up $0.17 during mid-day trading on Tuesday, hitting $47.28. 13,974,175 shares of the stock were exchanged, compared to its average volume of 19,064,670. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The business has a fifty day moving average price of $48.75 and a 200 day moving average price of $49.69. Cisco Systems, Inc. has a 12 month low of $45.70 and a 12 month high of $58.19. The stock has a market capitalization of $191.45 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 2.72 and a beta of 0.87.

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

Cisco Systems Increases Dividend

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

Cisco Systems Company 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. 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.