Allworth Financial LP Acquires 54,879 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Allworth Financial LP increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 520,193 shares of the network equipment provider’s stock after buying an additional 54,879 shares during the quarter. Allworth Financial LP’s holdings in Cisco Systems were worth $32,060,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC raised its position in shares of Cisco Systems by 57.7% in the third quarter. Exchange Traded Concepts LLC now owns 5,126 shares of the network equipment provider’s stock worth $273,000 after buying an additional 1,876 shares in the last quarter. Creative Planning grew its holdings in shares of Cisco Systems by 3.4% during the 3rd quarter. Creative Planning now owns 1,155,964 shares of the network equipment provider’s stock worth $60,979,000 after acquiring an additional 38,000 shares during the period. Swedbank AB grew its stake in shares of Cisco Systems by 0.6% in the 3rd quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock worth $480,555,000 after buying an additional 52,711 shares during the last quarter. Secure Asset Management LLC bought a new position in Cisco Systems in the 3rd quarter valued at approximately $226,000. Finally, Onyx Bridge Wealth Group LLC lifted its holdings in shares of Cisco Systems by 4.7% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 8,452 shares of the network equipment provider’s stock valued at $450,000 after buying an additional 381 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In related news, Director Kristina M. Johnson sold 7,500 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the sale, the director now directly owns 65,915 shares in the company, valued at approximately $3,946,331.05. The trade was a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the sale, the executive vice president now owns 207,798 shares in the company, valued at $12,299,563.62. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,239 shares of company stock worth $2,166,612. 0.01% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CSCO. Citigroup raised their price objective on Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Piper Sandler lifted their price target on shares of Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday. The Goldman Sachs Group boosted their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.53.

Cisco Systems Trading Up 1.6 %

Shares of CSCO stock opened at $64.87 on Friday. The company has a market cap of $258.36 billion, a P/E ratio of 27.84, a PEG ratio of 4.63 and a beta of 0.84. The stock has a 50 day simple moving average of $60.07 and a two-hundred day simple moving average of $55.54. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Research analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.