Hohimer Wealth Management LLC Purchases 20,679 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Hohimer Wealth Management LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 24.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 104,481 shares of the network equipment provider’s stock after acquiring an additional 20,679 shares during the period. Cisco Systems comprises approximately 1.2% of Hohimer Wealth Management LLC’s holdings, making the stock its 14th largest position. Hohimer Wealth Management LLC’s holdings in Cisco Systems were worth $5,560,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CSCO. Soltis Investment Advisors LLC boosted its holdings in Cisco Systems by 6.6% in the third quarter. Soltis Investment Advisors LLC now owns 12,930 shares of the network equipment provider’s stock worth $688,000 after purchasing an additional 798 shares during the last quarter. Fortem Financial Group LLC increased its position in Cisco Systems by 35.7% during the third quarter. Fortem Financial Group LLC now owns 53,774 shares of the network equipment provider’s stock valued at $2,862,000 after acquiring an additional 14,135 shares during the last quarter. Financial Avengers Inc. grew its stake in shares of Cisco Systems by 76.9% during the 3rd quarter. Financial Avengers Inc. now owns 3,001 shares of the network equipment provider’s stock valued at $160,000 after purchasing an additional 1,305 shares during the period. Coldstream Capital Management Inc. increased its position in shares of Cisco Systems by 6.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 180,538 shares of the network equipment provider’s stock valued at $9,650,000 after purchasing an additional 11,139 shares during the last quarter. Finally, Twin Lakes Capital Management LLC lifted its stake in shares of Cisco Systems by 2.5% in the 3rd quarter. Twin Lakes Capital Management LLC now owns 14,824 shares of the network equipment provider’s stock worth $789,000 after purchasing an additional 365 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $58.72 on Wednesday. The stock has a 50 day moving average price of $56.65 and a 200 day moving average price of $51.05. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock has a market cap of $233.87 billion, a PE ratio of 25.20, a P/E/G ratio of 4.39 and a beta of 0.85. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.23.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the business earned $0.98 earnings per share. Equities research analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.72%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This trade represents a 1.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 171,744 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 351,860 shares of company stock valued at $20,231,558 in the last quarter. 0.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on CSCO. Jefferies Financial Group reduced their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Barclays upped their price target on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Citigroup lifted their price objective on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Rosenblatt Securities raised their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, Piper Sandler upped their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.94.

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.