Chesapeake Wealth Management Has $1.01 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Chesapeake Wealth Management boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,992 shares of the network equipment provider’s stock after buying an additional 348 shares during the quarter. Chesapeake Wealth Management’s holdings in Cisco Systems were worth $1,011,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new position in shares of Cisco Systems during the 2nd quarter worth approximately $25,000. Quarry LP boosted its position in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the period. West Financial Advisors LLC increased its holdings in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Cisco Systems in the second quarter valued at about $36,000. Finally, Iron Horse Wealth Management LLC lifted its stake in shares of Cisco Systems by 617.7% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after buying an additional 766 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the topic of a number of research reports. Jefferies Financial Group decreased their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Citigroup upped their target price on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Wells Fargo & Company lifted their price target on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Piper Sandler lifted their target price on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.94.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 1.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the transaction, the executive vice president now owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. This trade represents a 5.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,615 shares of company stock valued at $682,681 in the last quarter. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Down 0.3 %

NASDAQ CSCO opened at $57.31 on Tuesday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $59.38. The business has a fifty day moving average price of $54.35 and a two-hundred day moving average price of $49.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The stock has a market capitalization of $228.71 billion, a PE ratio of 24.60, a PEG ratio of 4.67 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Cisco Systems’s revenue was down 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share. Equities analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio is 68.67%.

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.