Cisco Systems, Inc. $CSCO Shares Bought by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 463,944 shares of the network equipment provider’s stock after buying an additional 21,647 shares during the period. Cisco Systems accounts for about 0.6% of Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s investment portfolio, making the stock its 27th biggest holding. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Cisco Systems were worth $35,738,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CSCO. Mirae Asset Global Investments Co. Ltd. boosted its stake in Cisco Systems by 6.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,189,645 shares of the network equipment provider’s stock valued at $218,236,000 after purchasing an additional 205,043 shares in the last quarter. Greystone Financial Group LLC bought a new stake in shares of Cisco Systems in the 3rd quarter worth $8,563,000. Jones Financial Companies Lllp lifted its holdings in shares of Cisco Systems by 8.9% in the third quarter. Jones Financial Companies Lllp now owns 686,469 shares of the network equipment provider’s stock valued at $46,165,000 after buying an additional 56,057 shares during the period. Rockland Trust Co. lifted its holdings in shares of Cisco Systems by 213.8% in the third quarter. Rockland Trust Co. now owns 20,497 shares of the network equipment provider’s stock valued at $1,402,000 after buying an additional 13,966 shares during the period. Finally, CX Institutional boosted its stake in Cisco Systems by 11.0% during the third quarter. CX Institutional now owns 144,336 shares of the network equipment provider’s stock valued at $9,875,000 after buying an additional 14,334 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Price Performance

NASDAQ CSCO opened at $77.93 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. Cisco Systems, Inc. has a 1 year low of $52.11 and a 1 year high of $88.18. The company has a market cap of $307.81 billion, a PE ratio of 27.34, a PEG ratio of 2.93 and a beta of 0.83. The stock’s 50-day moving average price is $79.18 and its two-hundred day moving average price is $75.51.

Cisco Systems (NASDAQ:CSCOGet Free Report) last announced its 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. The company had revenue of $15.35 billion during the quarter, compared to analysts’ expectations of $15.11 billion. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the company posted $0.94 earnings per share. On average, analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $1.68 dividend on an annualized basis and a yield of 2.2%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s dividend payout ratio (DPR) is 57.54%.

Insider Activity

In other news, SVP Maria Victoria Wong sold 2,179 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $77.74, for a total value of $169,395.46. Following the completion of the sale, the senior vice president owned 28,807 shares of the company’s stock, valued at $2,239,456.18. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Charles Robbins sold 19,545 shares of Cisco Systems stock in a transaction on Friday, February 13th. The shares were sold at an average price of $76.00, for a total value of $1,485,420.00. Following the transaction, the chief executive officer owned 671,095 shares in the company, valued at $51,003,220. This represents a 2.83% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 46,431 shares of company stock worth $3,574,820. 0.01% of the stock is owned by corporate insiders.

Trending Headlines about Cisco Systems

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Analyst Upgrades and Downgrades

Several brokerages have commented on CSCO. Wall Street Zen cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Rosenblatt Securities restated a “buy” rating and set a $100.00 price objective on shares of Cisco Systems in a research report on Thursday, February 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cisco Systems in a research note on Tuesday, January 27th. DZ Bank upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, February 13th. Finally, UBS Group increased their target price on shares of Cisco Systems from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and an average price target of $89.76.

Read Our Latest Report 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.

Further Reading

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

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