Chase Investment Counsel Corp Boosts Stock Position in Cisco Systems, Inc. $CSCO

Chase Investment Counsel Corp lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 158.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,721 shares of the network equipment provider’s stock after acquiring an additional 6,577 shares during the period. Chase Investment Counsel Corp’s holdings in Cisco Systems were worth $733,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Benchmark Financial Wealth Advisors LLC grew its holdings in 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 buying an additional 142 shares in the last quarter. Yoder Wealth Management Inc. boosted its position in shares of Cisco Systems by 3.8% in the third quarter. Yoder Wealth Management Inc. now owns 3,945 shares of the network equipment provider’s stock valued at $270,000 after acquiring an additional 143 shares during the period. Wynn Capital LLC grew its stake in Cisco Systems by 0.3% during the third quarter. Wynn Capital LLC now owns 48,456 shares of the network equipment provider’s stock valued at $3,315,000 after acquiring an additional 150 shares in the last quarter. Old North State Trust LLC increased its holdings in Cisco Systems by 0.6% during the 2nd quarter. Old North State Trust LLC now owns 24,534 shares of the network equipment provider’s stock worth $1,702,000 after acquiring an additional 151 shares during the period. Finally, Boyd Watterson Asset Management LLC OH lifted its stake in Cisco Systems by 1.5% in the 2nd quarter. Boyd Watterson Asset Management LLC OH now owns 10,445 shares of the network equipment provider’s stock worth $725,000 after purchasing an additional 152 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Argus upgraded shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, February 13th. HSBC lifted their price objective on Cisco Systems from $74.00 to $77.00 and gave the company a “hold” rating in a research note on Friday, February 13th. Zacks Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Wall Street Zen downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Finally, Bank of America upped 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. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.55.

Insider Transactions at Cisco Systems

In other Cisco Systems news, Director Michael D. Capellas sold 16,150 shares of Cisco Systems stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $77.28, for a total value of $1,248,072.00. Following the transaction, the director directly owned 157,218 shares of the company’s stock, valued at $12,149,807.04. The trade was a 9.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kristina M. Johnson sold 13,481 shares of the stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $77.13, for a total value of $1,039,789.53. Following the sale, the director directly owned 61,630 shares of the company’s stock, valued at approximately $4,753,521.90. This trade represents a 17.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 73,498 shares of company stock valued at $5,641,815. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Down 1.8%

Shares of NASDAQ CSCO opened at $77.74 on Tuesday. Cisco Systems, Inc. has a one year low of $52.11 and a one year high of $88.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85. The firm’s 50 day simple moving average is $77.70 and its two-hundred day simple moving average is $73.54. The stock has a market capitalization of $307.06 billion, a P/E ratio of 27.28, a PEG ratio of 2.99 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The company had revenue of $15.35 billion during the quarter, compared to analysts’ expectations of $15.11 billion. During the same quarter in the prior year, the company earned $0.94 EPS. The firm’s revenue was up 9.7% on a year-over-year basis. As a group, analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

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

Cisco Systems 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.