SevenBridge Financial Group LLC Has $6.47 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

SevenBridge Financial Group LLC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.8% during the 3rd quarter, Holdings Channel reports. The firm owned 110,325 shares of the network equipment provider’s stock after buying an additional 2,965 shares during the period. Cisco Systems comprises about 1.1% of SevenBridge Financial Group LLC’s investment portfolio, making the stock its 20th biggest position. SevenBridge Financial Group LLC’s holdings in Cisco Systems were worth $6,468,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new position in Cisco Systems during the second quarter worth $25,000. Quarry LP increased its stake in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC raised its holdings in shares of Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares during the period. Hobbs Group Advisors LLC bought a new position in Cisco Systems during the second quarter worth about $36,000. Finally, Iron Horse Wealth Management LLC increased its position in Cisco Systems by 617.7% during the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after buying an additional 766 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CSCO. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, August 15th. Jefferies Financial Group reduced their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. UBS Group raised their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Piper Sandler upped their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, Wells Fargo & Company raised their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.94.

Cisco Systems Stock Up 1.7 %

Shares of NASDAQ CSCO opened at $58.55 on Friday. The stock has a market capitalization of $233.19 billion, a P/E ratio of 25.13, a PEG ratio of 4.28 and a beta of 0.83. The stock’s fifty day moving average is $55.02 and its 200 day moving average is $50.15. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.38. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. Sell-side analysts forecast 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 will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.73%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insiders Place Their Bets

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 21,230 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the transaction, the executive vice president now owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the firm’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 transaction 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 approximately $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 342,858 shares of company stock worth $19,661,157 over the last three months. Insiders own 0.01% of the company’s stock.

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.