Cisco Systems, Inc. $CSCO Shares Bought by Dakota Wealth Management

Dakota Wealth Management raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 91.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 440,835 shares of the network equipment provider’s stock after buying an additional 210,099 shares during the period. Dakota Wealth Management’s holdings in Cisco Systems were worth $30,162,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake in Cisco Systems by 1.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 28,054 shares of the network equipment provider’s stock valued at $1,919,000 after purchasing an additional 315 shares in the last quarter. Cornerstone Capital Inc. boosted its position in Cisco Systems by 2.2% during the third quarter. Cornerstone Capital Inc. now owns 305,040 shares of the network equipment provider’s stock worth $20,871,000 after purchasing an additional 6,647 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in Cisco Systems by 2.8% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 9,842 shares of the network equipment provider’s stock valued at $673,000 after purchasing an additional 267 shares during the last quarter. Legacy Financial Advisors Inc. increased its position in shares of Cisco Systems by 7.9% in the third quarter. Legacy Financial Advisors Inc. now owns 27,994 shares of the network equipment provider’s stock valued at $1,915,000 after buying an additional 2,047 shares in the last quarter. Finally, Verus Capital Partners LLC increased its position in shares of Cisco Systems by 16.2% in the third quarter. Verus Capital Partners LLC now owns 13,253 shares of the network equipment provider’s stock valued at $907,000 after buying an additional 1,848 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

CSCO stock opened at $77.74 on Tuesday. The stock has a market capitalization of $307.06 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 2.99 and a beta of 0.87. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. Cisco Systems, Inc. has a 52-week low of $52.11 and a 52-week high of $88.18. The stock’s fifty day simple moving average is $77.70 and its 200-day simple moving average is $73.54.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The firm had revenue of $15.35 billion during the quarter, compared to analyst estimates of $15.11 billion. During the same period in the prior year, the firm posted $0.94 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be given a $0.42 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, April 2nd. Cisco Systems’s dividend payout ratio is 57.54%.

Insider Transactions at Cisco Systems

In other news, Director Michael D. Capellas sold 10,850 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $77.13, for a total transaction of $836,860.50. Following the completion of the sale, the director directly owned 146,368 shares of the company’s stock, valued at $11,289,363.84. The trade was a 6.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Robbins sold 19,545 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $76.00, for a total value of $1,485,420.00. Following the completion of the transaction, the chief executive officer directly owned 671,095 shares in the company, valued at $51,003,220. This trade represents a 2.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 73,498 shares of company stock valued at $5,641,815 in the last quarter. Insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CSCO. Bank of America boosted their price objective on shares of Cisco Systems from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. JPMorgan Chase & Co. upped their price target on shares of Cisco Systems from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Piper Sandler raised their price objective on shares of Cisco Systems from $70.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. Morgan Stanley upped their target price on Cisco Systems from $82.00 to $91.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. Finally, KeyCorp raised their price target on Cisco Systems from $77.00 to $87.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.55.

Cisco Systems Company Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.