ABLE Financial Group LLC Purchases 12,815 Shares of Cisco Systems, Inc. $CSCO

ABLE Financial Group LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 230.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,365 shares of the network equipment provider’s stock after purchasing an additional 12,815 shares during the period. ABLE Financial Group LLC’s holdings in Cisco Systems were worth $1,415,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Northstar Advisory Group LLC increased its position in shares of Cisco Systems by 1.6% during the 4th quarter. Northstar Advisory Group LLC now owns 8,203 shares of the network equipment provider’s stock valued at $632,000 after purchasing an additional 133 shares during the last quarter. Green Alpha Advisors LLC increased its position in shares of Cisco Systems by 1.2% during the 4th quarter. Green Alpha Advisors LLC now owns 12,349 shares of the network equipment provider’s stock valued at $951,000 after purchasing an additional 141 shares during the last quarter. Benchmark Financial Wealth Advisors LLC increased its position in shares of Cisco Systems by 1.4% during the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 10,449 shares of the network equipment provider’s stock valued at $715,000 after purchasing an additional 142 shares during the last quarter. Cobblestone Capital Advisors LLC NY increased its position in shares of Cisco Systems by 0.6% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 24,622 shares of the network equipment provider’s stock valued at $1,685,000 after purchasing an additional 142 shares during the last quarter. Finally, Yoder Wealth Management Inc. increased its position in shares of Cisco Systems by 3.8% during the 3rd quarter. Yoder Wealth Management Inc. now owns 3,945 shares of the network equipment provider’s stock valued at $270,000 after purchasing an additional 143 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO opened at $82.22 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85. Cisco Systems, Inc. has a 1 year low of $53.83 and a 1 year high of $88.18. The company has a 50 day simple moving average of $79.74 and a two-hundred day simple moving average of $76.23. The firm has a market cap of $324.76 billion, a P/E ratio of 28.85, a price-to-earnings-growth ratio of 3.10 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. The firm had revenue of $15.35 billion during the quarter, compared to the consensus estimate of $15.11 billion. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 EPS. On average, equities analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share 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. Stockholders of record on Thursday, April 2nd will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 2nd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s dividend payout ratio is currently 58.95%.

Analyst Ratings Changes

Several research firms have recently commented on CSCO. President Capital decreased their price objective on Cisco Systems from $90.00 to $88.00 in a research note on Wednesday, December 24th. CICC Research raised their price objective on Cisco Systems from $84.00 to $96.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. BNP Paribas Exane increased their target price on shares of Cisco Systems from $86.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. JPMorgan Chase & Co. increased their target price on shares of Cisco Systems from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Finally, HSBC increased their target price on shares of Cisco Systems from $74.00 to $77.00 and gave the stock a “hold” rating in a report on Friday, February 13th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.76.

Insider Activity

In other news, insider Jeetendra I. Patel sold 11,248 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was 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 represents a 4.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 2,179 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $77.74, for a total value of $169,395.46. Following the transaction, the senior vice president owned 28,807 shares of the company’s stock, valued at $2,239,456.18. This represents a 7.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 46,431 shares of company stock worth $3,574,820. 0.01% of the stock is owned by corporate insiders.

About Cisco Systems

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.