Jackson Square Capital LLC raised its position in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 53.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,893 shares of the network equipment provider’s stock after purchasing an additional 12,513 shares during the quarter. Jackson Square Capital LLC’s holdings in Cisco Systems were worth $2,125,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in CSCO. Krilogy Financial LLC raised its holdings in shares of Cisco Systems by 9.4% in the 4th quarter. Krilogy Financial LLC now owns 11,622 shares of the network equipment provider’s stock valued at $688,000 after buying an additional 1,001 shares during the period. TruWealth Advisors LLC grew its position in Cisco Systems by 0.5% in the 4th quarter. TruWealth Advisors LLC now owns 426,917 shares of the network equipment provider’s stock valued at $25,273,000 after acquiring an additional 2,172 shares in the last quarter. Ameritas Advisory Services LLC increased its stake in Cisco Systems by 6.9% during the fourth quarter. Ameritas Advisory Services LLC now owns 50,077 shares of the network equipment provider’s stock worth $2,965,000 after purchasing an additional 3,252 shares during the period. HB Wealth Management LLC lifted its position in shares of Cisco Systems by 2.6% during the fourth quarter. HB Wealth Management LLC now owns 324,746 shares of the network equipment provider’s stock worth $19,225,000 after purchasing an additional 8,275 shares in the last quarter. Finally, Trust Co. of Vermont boosted its stake in shares of Cisco Systems by 0.3% in the fourth quarter. Trust Co. of Vermont now owns 194,397 shares of the network equipment provider’s stock valued at $11,508,000 after purchasing an additional 627 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems Stock Up 0.7 %
CSCO opened at $60.23 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $60.95. The stock has a market capitalization of $239.88 billion, a P/E ratio of 25.85, a P/E/G ratio of 4.37 and a beta of 0.84. The business has a 50 day simple moving average of $58.91 and a 200-day simple moving average of $53.52.
Cisco Systems Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on CSCO shares. Tigress Financial increased their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Barclays lifted their target price on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Piper Sandler upped their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Bank of America lifted their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.
Read Our Latest Stock Analysis on CSCO
Insider Buying and Selling
In related news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the sale, the chief executive officer now owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the transaction, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at $12,203,506.38. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock worth $20,349,721 in the last quarter. Company insiders own 0.01% of the company’s stock.
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.
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