Brown Lisle Cummings Inc. Acquires 2,668 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Brown Lisle Cummings Inc. raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,222 shares of the network equipment provider’s stock after purchasing an additional 2,668 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in Cisco Systems were worth $1,434,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Quarry LP grew its stake in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the last quarter. Czech National Bank boosted its position in Cisco Systems by 6.4% in the 3rd quarter. Czech National Bank now owns 820,712 shares of the network equipment provider’s stock valued at $43,678,000 after buying an additional 49,100 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Cisco Systems by 19.4% in the 3rd quarter. GAMMA Investing LLC now owns 82,544 shares of the network equipment provider’s stock valued at $4,393,000 after buying an additional 13,406 shares during the period. Azzad Asset Management Inc. ADV raised its position in shares of Cisco Systems by 2.3% during the third quarter. Azzad Asset Management Inc. ADV now owns 39,516 shares of the network equipment provider’s stock worth $2,103,000 after acquiring an additional 907 shares during the last quarter. Finally, Diversified Trust Co boosted its holdings in Cisco Systems by 3.6% in the third quarter. Diversified Trust Co now owns 51,885 shares of the network equipment provider’s stock valued at $2,761,000 after acquiring an additional 1,827 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CSCO. Wells Fargo & Company boosted their price objective on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Morgan Stanley upped their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler upped their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Finally, Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.72.

Insider Activity at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 3,042 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $59.19, for a total transaction of $180,055.98. Following the completion of the transaction, the executive vice president now directly owns 207,798 shares in the company, valued at $12,299,563.62. This trade represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the sale, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock worth $20,349,721 in the last quarter. 0.01% of the stock is owned by insiders.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $61.04 on Tuesday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $62.31. 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 company has a market cap of $243.11 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 4.51 and a beta of 0.84. The firm has a 50 day simple moving average of $59.44 and a 200 day simple moving average of $54.58.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $0.98 EPS. Research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 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.