Marks Group Wealth Management Inc Boosts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Marks Group Wealth Management Inc lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,658 shares of the network equipment provider’s stock after acquiring an additional 234 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Cisco Systems were worth $488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CSCO. California Public Employees Retirement System increased its holdings in Cisco Systems by 25.0% in the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock valued at $947,262,000 after buying an additional 3,753,165 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in Cisco Systems in the third quarter valued at $179,207,000. Capital Wealth Planning LLC boosted its stake in Cisco Systems by 7,074.3% in the third quarter. Capital Wealth Planning LLC now owns 3,271,642 shares of the network equipment provider’s stock valued at $175,883,000 after acquiring an additional 3,226,040 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Cisco Systems by 32.7% in the fourth quarter. Pacer Advisors Inc. now owns 7,749,370 shares of the network equipment provider’s stock valued at $391,498,000 after acquiring an additional 1,909,597 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Cisco Systems by 3.8% in the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock valued at $2,717,537,000 after acquiring an additional 1,847,682 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the subject of several research analyst reports. UBS Group upped their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. initiated coverage on shares of Cisco Systems in a research note on Monday. They set a “neutral” rating and a $53.00 target price for the company. Citigroup initiated coverage on shares of Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. Piper Sandler increased their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Finally, Melius Research reiterated a “hold” rating and set a $55.00 target price on shares of Cisco Systems in a research note on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $55.53.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock worth $972,080 in the last quarter. 0.02% of the stock is owned by insiders.

Cisco Systems Stock Down 0.5 %

CSCO stock opened at $48.07 on Wednesday. The stock has a market capitalization of $194.64 billion, a P/E ratio of 14.69, a PEG ratio of 2.78 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19. The company has a 50 day moving average price of $49.01 and a two-hundred day moving average price of $50.13.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.84 by $0.03. The firm had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. Cisco Systems’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 EPS. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Wednesday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio (DPR) is 48.63%.

Cisco Systems 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.