Cornerstone Wealth Group LLC Has $566,000 Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Cornerstone Wealth Group LLC lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 13.2% during the fourth quarter, Holdings Channel reports. The fund owned 9,565 shares of the network equipment provider’s stock after acquiring an additional 1,114 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Cisco Systems were worth $566,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CSCO. waypoint wealth counsel raised its position in shares of Cisco Systems by 1.7% in the fourth quarter. waypoint wealth counsel now owns 13,055 shares of the network equipment provider’s stock valued at $773,000 after purchasing an additional 214 shares during the period. Union Bancaire Privee UBP SA acquired a new position in Cisco Systems in the 4th quarter valued at $3,462,000. Capital Asset Advisory Services LLC lifted its position in Cisco Systems by 4.5% during the 4th quarter. Capital Asset Advisory Services LLC now owns 64,312 shares of the network equipment provider’s stock worth $3,785,000 after acquiring an additional 2,743 shares during the last quarter. Blue Trust Inc. boosted its holdings in Cisco Systems by 48.9% during the fourth quarter. Blue Trust Inc. now owns 82,149 shares of the network equipment provider’s stock valued at $4,863,000 after acquiring an additional 26,980 shares during the period. Finally, PFG Investments LLC grew its position in shares of Cisco Systems by 1.3% in the fourth quarter. PFG Investments LLC now owns 172,821 shares of the network equipment provider’s stock valued at $10,231,000 after purchasing an additional 2,188 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $59.09 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $59.22 and a 200 day simple moving average of $54.14. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $62.31. The stock has a market capitalization of $235.35 billion, a PE ratio of 25.36, a P/E/G ratio of 4.59 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same period last year, the firm posted $0.98 earnings per share. The business’s revenue was down 5.6% on a year-over-year basis. On average, research analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several recent analyst reports. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Wells Fargo & Company increased their price objective on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Barclays boosted their target price on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Bank of America increased their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 586 shares of Cisco Systems stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the transaction, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by corporate insiders.

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.