American Wealth Advisors LLC Makes New Investment in Cisco Systems, Inc. $CSCO

American Wealth Advisors LLC acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,320 shares of the network equipment provider’s stock, valued at approximately $432,000.

A number of other hedge funds have also modified their holdings of CSCO. Vanguard Group Inc. raised its holdings in shares of Cisco Systems by 1.3% in the second quarter. Vanguard Group Inc. now owns 393,989,568 shares of the network equipment provider’s stock valued at $27,334,996,000 after buying an additional 5,039,714 shares during the last quarter. State Street Corp increased its position in Cisco Systems by 0.6% in the 2nd quarter. State Street Corp now owns 194,695,250 shares of the network equipment provider’s stock valued at $13,507,956,000 after acquiring an additional 1,067,872 shares during the period. Geode Capital Management LLC raised its stake in Cisco Systems by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 99,252,395 shares of the network equipment provider’s stock valued at $6,864,058,000 after acquiring an additional 1,157,704 shares during the last quarter. Norges Bank acquired a new stake in Cisco Systems during the 2nd quarter worth approximately $3,816,825,000. Finally, Invesco Ltd. grew its stake in shares of Cisco Systems by 3.0% in the 2nd quarter. Invesco Ltd. now owns 48,531,251 shares of the network equipment provider’s stock valued at $3,367,098,000 after purchasing an additional 1,414,105 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, insider Jeetendra I. Patel sold 11,248 shares of the firm’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $76.00, for a total transaction of $854,848.00. Following the completion of the transaction, the insider directly owned 262,776 shares in the company, valued at approximately $19,970,976. This trade represents a 4.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 2,179 shares of Cisco Systems stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $77.74, for a total transaction of $169,395.46. Following the transaction, the senior vice president owned 28,807 shares of the company’s stock, valued at approximately $2,239,456.18. The trade was a 7.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 75,677 shares of company stock valued at $5,811,211. Company insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 2.4%

Shares of Cisco Systems stock opened at $80.87 on Thursday. The company has a 50-day moving average of $77.92 and a two-hundred day moving average of $73.96. Cisco Systems, Inc. has a 12-month low of $52.11 and a 12-month high of $88.18. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. The stock has a market cap of $319.43 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 2.98 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCOGet Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, topping 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 business had revenue of $15.35 billion for the quarter, compared to analyst estimates of $15.11 billion. During the same quarter in the previous year, the company earned $0.94 EPS. The company’s quarterly revenue was up 9.7% on a year-over-year basis. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.1%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, April 2nd. Cisco Systems’s dividend payout ratio is currently 57.54%.

Key Cisco Systems News

Here are the key news stories impacting Cisco Systems this week:

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CSCO shares. KeyCorp upped their price target on Cisco Systems from $77.00 to $87.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. HSBC boosted their price objective on shares of Cisco Systems from $74.00 to $77.00 and gave the company a “hold” rating in a research note on Friday, February 13th. Bank of America raised their target price on shares of Cisco Systems from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. DZ Bank upgraded shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, February 13th. Finally, Piper Sandler raised their price objective on shares of Cisco Systems from $70.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.55.

Get Our Latest Stock Analysis on Cisco Systems

Cisco Systems Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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