Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Bay Rivers Group

Bay Rivers Group boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 11.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,064 shares of the network equipment provider’s stock after buying an additional 500 shares during the quarter. Bay Rivers Group’s holdings in Cisco Systems were worth $256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in CSCO. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Cisco Systems in the third quarter valued at approximately $27,000. Valued Wealth Advisors LLC acquired a new stake in Cisco Systems during the 4th quarter worth $32,000. Fortis Capital Advisors LLC acquired a new position in Cisco Systems in the fourth quarter valued at $34,000. Hibernia Wealth Partners LLC acquired a new stake in shares of Cisco Systems during the third quarter worth about $42,000. Finally, VitalStone Financial LLC purchased a new position in shares of Cisco Systems during the second quarter worth about $45,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Cisco Systems Trading Up 0.7 %

NASDAQ:CSCO traded up $0.33 on Thursday, hitting $49.88. 21,827,799 shares of the stock were exchanged, compared to its average volume of 20,200,344. The stock has a market cap of $201.97 billion, a PE ratio of 15.16, a PEG ratio of 2.22 and a beta of 0.87. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average of $49.84 and a 200-day moving average of $51.19.

Cisco Systems (NASDAQ:CSCOGet Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. During the same period in the previous year, the company posted $0.76 earnings per share. Cisco Systems’s revenue was down 5.9% compared to the same quarter last year. As a group, equities analysts expect that Cisco Systems, Inc. will post 3.17 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 3.21%. Cisco Systems’s dividend payout ratio (DPR) is 47.42%.

Insiders Place Their Bets

In related news, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock worth $972,080 over the last quarter. 0.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several analyst reports. Barclays upped their price target on Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Wells Fargo & Company started coverage on Cisco Systems in a research note on Thursday, February 15th. They set an “equal weight” rating and a $52.00 target price for the company. Melius Research restated a “hold” rating and set a $55.00 target price on shares of Cisco Systems in a research report on Monday, January 8th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, Piper Sandler lifted their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.42.

View Our Latest Report on Cisco Systems

Cisco Systems Company Profile

(Free Report)

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.

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

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