Palisade Asset Management LLC Raises Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Palisade Asset Management LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 383,597 shares of the network equipment provider’s stock after purchasing an additional 9,989 shares during the quarter. Cisco Systems accounts for approximately 2.1% of Palisade Asset Management LLC’s portfolio, making the stock its 10th largest position. Palisade Asset Management LLC’s holdings in Cisco Systems were worth $19,379,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CSCO. Waddell & Associates LLC increased its position in Cisco Systems by 0.8% in the 3rd quarter. Waddell & Associates LLC now owns 24,693 shares of the network equipment provider’s stock worth $1,328,000 after purchasing an additional 191 shares during the last quarter. Sax Wealth Advisors LLC raised its holdings in shares of Cisco Systems by 3.6% during the 3rd quarter. Sax Wealth Advisors LLC now owns 5,686 shares of the network equipment provider’s stock valued at $306,000 after purchasing an additional 196 shares in the last quarter. Winch Advisory Services LLC lifted its stake in shares of Cisco Systems by 19.3% in the 3rd quarter. Winch Advisory Services LLC now owns 1,232 shares of the network equipment provider’s stock valued at $66,000 after purchasing an additional 199 shares during the last quarter. Gill Capital Partners LLC boosted its holdings in Cisco Systems by 5.2% in the third quarter. Gill Capital Partners LLC now owns 4,155 shares of the network equipment provider’s stock worth $223,000 after purchasing an additional 207 shares in the last quarter. Finally, Madrona Financial Services LLC increased its position in Cisco Systems by 2.4% during the fourth quarter. Madrona Financial Services LLC now owns 8,970 shares of the network equipment provider’s stock worth $453,000 after buying an additional 207 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,441 shares of company stock valued at $972,080. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CSCO shares. Deutsche Bank Aktiengesellschaft raised their price objective on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. UBS Group upped their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Piper Sandler raised their price objective 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, Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the company from $55.00 to $60.00 in a report on Monday, April 15th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.53.

Cisco Systems Trading Up 1.6 %

Shares of NASDAQ:CSCO traded up $0.75 during midday trading on Wednesday, hitting $48.03. The company had a trading volume of 10,227,426 shares, compared to its average volume of 18,961,699. The firm has a fifty day simple moving average of $48.75 and a 200 day simple moving average of $49.69. The stock has a market cap of $194.48 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 2.72 and a beta of 0.87. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. Cisco Systems, Inc. has a 12 month low of $45.70 and a 12 month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The company had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. During the same period in the previous year, the company earned $0.76 EPS. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, analysts predict that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were given a $0.40 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Wednesday, April 3rd. Cisco Systems’s payout ratio is currently 48.63%.

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.