32,700 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Acquired by Naples Money Management LLC

Naples Money Management LLC purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 32,700 shares of the network equipment provider’s stock, valued at approximately $1,652,000. Cisco Systems makes up about 1.5% of Naples Money Management LLC’s holdings, making the stock its 27th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in CSCO. Kathleen S. Wright Associates Inc. acquired a new position in Cisco Systems in the 3rd quarter worth $27,000. Valued Wealth Advisors LLC bought a new stake in shares of Cisco Systems in the fourth quarter valued at about $32,000. Fortis Capital Advisors LLC acquired a new position in shares of Cisco Systems during the fourth quarter worth about $34,000. Morton Brown Family Wealth LLC grew its holdings in shares of Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after buying an additional 208 shares in the last quarter. Finally, Bourgeon Capital Management LLC raised its position in Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 700 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the subject of a number of recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Citigroup began coverage on Cisco Systems in a report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price objective for the company. Wells Fargo & Company assumed coverage on Cisco Systems in a report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 target price on the stock. Finally, Piper Sandler raised their price target on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $56.03.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded up $0.21 during mid-day trading on Friday, reaching $48.32. 20,962,402 shares of the company were exchanged, compared to its average volume of 19,502,734. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. The stock has a market capitalization of $195.66 billion, a P/E ratio of 14.69, a P/E/G ratio of 2.74 and a beta of 0.87. The company’s 50-day simple moving average is $49.11 and its 200-day simple moving average is $50.29. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $12.71 billion. During the same period last year, the business posted $0.76 earnings per share. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, research analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.31%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, April 3rd. Cisco Systems’s dividend payout ratio is currently 48.63%.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the sale, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the firm’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 owns 58,121 shares in the company, valued at approximately $2,906,050. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at $16,424,550. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock worth $972,080 in the last 90 days. Company insiders own 0.02% of the company’s stock.

Cisco Systems Company 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.