Signature Wealth Management Group Buys 3,963 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Signature Wealth Management Group boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,620 shares of the network equipment provider’s stock after acquiring an additional 3,963 shares during the quarter. Signature Wealth Management Group’s holdings in Cisco Systems were worth $3,224,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in Cisco Systems during the 4th quarter valued at about $2,492,430,000. Vanguard Group Inc. raised its position in Cisco Systems by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 368,876,953 shares of the network equipment provider’s stock valued at $20,568,578,000 after purchasing an additional 30,181,146 shares during the last quarter. BlackRock Inc. raised its position in Cisco Systems by 3.5% during the 4th quarter. BlackRock Inc. now owns 350,404,388 shares of the network equipment provider’s stock valued at $22,205,126,000 after purchasing an additional 11,804,677 shares during the last quarter. State Street Corp raised its position in shares of Cisco Systems by 3.2% in the 4th quarter. State Street Corp now owns 186,125,154 shares of the network equipment provider’s stock worth $11,794,751,000 after acquiring an additional 5,730,165 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Cisco Systems by 6.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock worth $2,975,139,000 after acquiring an additional 3,087,294 shares in the last quarter. 71.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Prat Bhatt sold 3,453 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $48.39, for a total transaction of $167,090.67. Following the sale, the senior vice president now directly owns 75,443 shares of the company’s stock, valued at $3,650,686.77. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, COO Maria Martinez sold 2,831 shares of Cisco Systems stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $48.39, for a total value of $136,992.09. Following the sale, the chief operating officer now directly owns 278,012 shares of the company’s stock, valued at $13,453,000.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prat Bhatt sold 3,453 shares of Cisco Systems stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $48.39, for a total value of $167,090.67. Following the completion of the sale, the senior vice president now directly owns 75,443 shares in the company, valued at $3,650,686.77. The disclosure for this sale can be found here. Insiders have sold a total of 56,317 shares of company stock valued at $2,612,042 over the last ninety days. 0.02% of the stock is currently owned by company insiders.

Cisco Systems Price Performance

NASDAQ CSCO opened at $41.15 on Friday. The company has a market capitalization of $169.08 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.43. The business’s fifty day moving average is $45.11 and its 200 day moving average is $47.52. Cisco Systems, Inc. has a fifty-two week low of $40.82 and a fifty-two week high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last posted its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $13.10 billion for the quarter, compared to analysts’ expectations of $12.78 billion. Cisco Systems had a return on equity of 31.12% and a net margin of 22.91%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the firm earned $0.76 earnings per share. Sell-side analysts predict that Cisco Systems, Inc. will post 3.1 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be issued a dividend of $0.38 per share. The ex-dividend date is Tuesday, October 4th. This represents a $1.52 dividend on an annualized basis and a yield of 3.69%. Cisco Systems’s dividend payout ratio is presently 53.90%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Piper Sandler increased their target price on Cisco Systems from $43.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, August 18th. Citigroup raised their price objective on Cisco Systems from $40.00 to $44.00 and gave the company a “sell” rating in a research report on Thursday, August 18th. UBS Group raised their price objective on Cisco Systems from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, August 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $51.00 price objective (down previously from $62.00) on shares of Cisco Systems in a research report on Thursday, July 14th. Finally, Evercore ISI increased their target price on Cisco Systems from $50.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, August 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Cisco Systems has a consensus rating of “Hold” and an average target price of $54.10.

Cisco Systems Company Profile

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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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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

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