Institute for Wealth Management LLC. Increases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Institute for Wealth Management LLC. grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,268 shares of the network equipment provider’s stock after purchasing an additional 416 shares during the period. Institute for Wealth Management LLC.’s holdings in Cisco Systems were worth $1,200,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP boosted its position in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares during the period. West Financial Advisors LLC raised its stake 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 acquiring an additional 309 shares in the last quarter. Highline Wealth Partners LLC boosted its holdings in Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems during the 3rd quarter worth $40,000. Finally, Decker Retirement Planning Inc. acquired a new position in Cisco Systems during the 4th quarter worth $49,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, CFO Richard Scott Herren sold 86,351 shares of Cisco Systems stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the sale, the chief financial officer now directly owns 365,314 shares in the company, valued at approximately $21,001,901.86. This trade represents a 19.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the sale, the executive vice president now owns 213,834 shares in the company, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 353,522 shares of company stock valued at $20,349,721. Corporate insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CSCO shares. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Tuesday. Piper Sandler boosted their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Citigroup increased their target price on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, Tigress Financial lifted their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.72.

Cisco Systems Trading Up 1.5 %

Shares of Cisco Systems stock opened at $60.47 on Friday. The company’s fifty day moving average is $59.34 and its two-hundred day moving average is $54.35. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $62.31. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The company has a market capitalization of $240.84 billion, a P/E ratio of 25.95, a PEG ratio of 4.43 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. Analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently announced 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 2.65%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

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.