Gradient Investments LLC Sells 292 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Gradient Investments LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 5.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,514 shares of the network equipment provider’s stock after selling 292 shares during the period. Gradient Investments LLC’s holdings in Cisco Systems were worth $263,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CSCO. United Bank purchased a new position in Cisco Systems during the first quarter worth about $645,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Cisco Systems by 32.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider’s stock worth $236,593,000 after purchasing an additional 1,040,607 shares in the last quarter. Roundview Capital LLC boosted its holdings in shares of Cisco Systems by 13.1% in the 1st quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider’s stock worth $588,000 after purchasing an additional 1,221 shares in the last quarter. Merit Financial Group LLC boosted its holdings in shares of Cisco Systems by 21.5% in the 1st quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider’s stock worth $656,000 after purchasing an additional 2,079 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Cisco Systems by 8.1% in the 1st quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider’s stock worth $135,470,000 after purchasing an additional 182,857 shares in the last quarter. 71.10% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Up 0.1 %

Shares of NASDAQ:CSCO opened at $50.19 on Monday. Cisco Systems, Inc. has a 52-week low of $38.60 and a 52-week high of $56.94. The firm has a market capitalization of $205.57 billion, a P/E ratio of 18.38, a P/E/G ratio of 2.31 and a beta of 1.00. The stock has a 50 day moving average price of $48.59 and a 200-day moving average price of $46.34. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.30 and a current ratio of 1.41.

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Cisco Systems (NASDAQ:CSCO – Get Rating) last announced its earnings results on Wednesday, February 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.12. Cisco Systems had a return on equity of 31.19% and a net margin of 21.26%. The firm had revenue of $13.59 billion during the quarter, compared to analyst estimates of $13.41 billion. During the same quarter in the prior year, the company earned $0.77 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 3.34 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 26th. Stockholders of record on Wednesday, April 5th will be given a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, April 4th. This represents a $1.56 annualized dividend and a dividend yield of 3.11%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.38. Cisco Systems’s dividend payout ratio is currently 57.14%.

Insider Activity at Cisco Systems

In related news, SVP Prat Bhatt sold 608 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $48.74, for a total transaction of $29,633.92. Following the completion of the transaction, the senior vice president now owns 50,162 shares of the company’s stock, valued at approximately $2,444,895.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Deborah L. Stahlkopf sold 23,701 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $50.90, for a total transaction of $1,206,380.90. Following the completion of the transaction, the executive vice president now owns 184,853 shares of the company’s stock, valued at approximately $9,409,017.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Prat Bhatt sold 608 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $48.74, for a total value of $29,633.92. Following the transaction, the senior vice president now directly owns 50,162 shares of the company’s stock, valued at approximately $2,444,895.88. The disclosure for this sale can be found here. Insiders sold a total of 47,568 shares of company stock valued at $2,376,624 in the last 90 days. Corporate insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CSCO shares. Cowen upped their price objective on Cisco Systems from $61.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, February 16th. Deutsche Bank Aktiengesellschaft upped their price objective on Cisco Systems from $52.00 to $55.00 and gave the stock a “hold” rating in a report on Wednesday, February 22nd. Piper Sandler increased their target price on Cisco Systems from $49.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, February 16th. Morgan Stanley increased their target price on Cisco Systems from $52.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, February 16th. Finally, Raymond James increased their target price on Cisco Systems from $59.00 to $63.00 and gave the company an “outperform” rating in a report on Thursday, February 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.38.

Cisco Systems Company Profile

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Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.