Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Summit Financial Wealth Advisors LLC

Summit Financial Wealth Advisors LLC boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 29.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,913 shares of the network equipment provider’s stock after buying an additional 5,474 shares during the quarter. Summit Financial Wealth Advisors LLC’s holdings in Cisco Systems were worth $1,208,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Kathleen S. Wright Associates Inc. acquired a new position in Cisco Systems in the third quarter worth approximately $27,000. Valued Wealth Advisors LLC purchased a new position in Cisco Systems during the 4th quarter worth approximately $32,000. Fortis Capital Advisors LLC purchased a new position in Cisco Systems during the 4th quarter worth approximately $34,000. Hibernia Wealth Partners LLC purchased a new position in Cisco Systems during the 3rd quarter worth approximately $42,000. Finally, VitalStone Financial LLC purchased a new position in Cisco Systems during the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Barclays lifted their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Melius Research reissued a “hold” rating and set a $55.00 target price on shares of Cisco Systems in a research note on Monday, January 8th. Piper Sandler lifted their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Finally, Melius lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Two 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $56.42.

Get Our Latest Report on CSCO

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $2,906,050. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $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 valued at $972,080 in the last 90 days. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $49.91 on Friday. The firm’s 50-day moving average is $49.73 and its 200-day moving average is $50.88. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The company has a market cap of $202.10 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 2.26 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCOGet Free Report) last posted its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. During the same quarter in the previous year, the firm posted $0.76 earnings per share. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.16 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be paid a $0.40 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.21%. Cisco Systems’s payout ratio is currently 47.42%.

About Cisco Systems

(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.

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

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