Flynn Zito Capital Management LLC Buys 484 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Flynn Zito Capital Management LLC grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 22,394 shares of the network equipment provider’s stock after purchasing an additional 484 shares during the period. Cisco Systems comprises approximately 0.8% of Flynn Zito Capital Management LLC’s holdings, making the stock its 16th largest position. Flynn Zito Capital Management LLC’s holdings in Cisco Systems were worth $1,131,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. AIA Group Ltd lifted its stake in shares of Cisco Systems by 37.5% in the 4th quarter. AIA Group Ltd now owns 1,039,233 shares of the network equipment provider’s stock valued at $52,502,000 after purchasing an additional 283,545 shares during the last quarter. SFE Investment Counsel lifted its stake in shares of Cisco Systems by 5.1% during the 4th quarter. SFE Investment Counsel now owns 52,935 shares of the network equipment provider’s stock worth $2,674,000 after acquiring an additional 2,590 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV lifted its stake in shares of Cisco Systems by 3.7% during the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 32,288 shares of the network equipment provider’s stock worth $1,640,000 after acquiring an additional 1,150 shares during the last quarter. Ninety One UK Ltd lifted its stake in shares of Cisco Systems by 1.5% during the 4th quarter. Ninety One UK Ltd now owns 272,994 shares of the network equipment provider’s stock worth $13,792,000 after acquiring an additional 4,106 shares during the last quarter. Finally, Peterson Wealth Services lifted its stake in shares of Cisco Systems by 18.8% during the 4th quarter. Peterson Wealth Services now owns 29,994 shares of the network equipment provider’s stock worth $1,515,000 after acquiring an additional 4,754 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CSCO. Piper Sandler raised their price target on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Citigroup initiated coverage on Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 price target for the company. Barclays raised their price objective on Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Finally, Morgan Stanley initiated coverage on Cisco Systems in a report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.03.

Cisco Systems Stock Up 0.6 %

CSCO stock traded up $0.31 on Thursday, hitting $48.10. 12,627,388 shares of the company’s stock were exchanged, compared to its average volume of 19,431,010. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19. The firm has a 50 day moving average price of $49.14 and a two-hundred day moving average price of $50.31. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The stock has a market cap of $194.77 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 2.75 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. During the same period in the previous year, the business earned $0.76 EPS. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.33%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, April 3rd. Cisco Systems’s payout ratio is 48.63%.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at approximately $2,906,050. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction dated 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 of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock worth $972,080 in the last ninety days. 0.02% of the stock is owned by insiders.

About Cisco Systems

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.