Lockheed Martin Investment Management Co. boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 16.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 140,400 shares of the network equipment provider’s stock after purchasing an additional 20,070 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Cisco Systems were worth $8,312,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. West Financial Advisors LLC raised its holdings in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares during the last quarter. Highline Wealth Partners LLC raised its stake in Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in Cisco Systems in the 3rd quarter valued at about $40,000. Decker Retirement Planning Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter worth about $49,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Cisco Systems in the third quarter valued at approximately $51,000. Institutional investors and hedge funds own 73.33% of the company’s stock.
Insider Buying and Selling at Cisco Systems
In related news, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the transaction, the executive vice president now directly owns 213,834 shares in the company, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Scott Herren sold 86,351 shares of the company’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 value of $4,964,318.99. Following the sale, the chief financial officer now owns 365,314 shares in the company, valued at $21,001,901.86. The trade was a 19.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock valued at $20,349,721 in the last three months. Corporate insiders own 0.01% of the company’s stock.
Cisco Systems Stock Up 0.5 %
Cisco Systems (NASDAQ:CSCO – Get Free Report) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 EPS. As a group, analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.
Cisco Systems Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a dividend of $0.40 per share. The ex-dividend date was Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.61%. Cisco Systems’s dividend payout ratio is presently 68.67%.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on CSCO. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Citigroup raised their price objective on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, January 17th. UBS Group upped their target price on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Piper Sandler raised their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, Tigress Financial upped their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $62.72.
Read Our Latest Analysis on Cisco Systems
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.
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