Fortem Financial Group LLC Grows Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Fortem Financial Group LLC grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 35.7% in the third quarter, Holdings Channel.com reports. The firm owned 53,774 shares of the network equipment provider’s stock after acquiring an additional 14,135 shares during the quarter. Cisco Systems makes up approximately 1.2% of Fortem Financial Group LLC’s investment portfolio, making the stock its 21st biggest position. Fortem Financial Group LLC’s holdings in Cisco Systems were worth $2,862,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems in the 2nd quarter valued at approximately $25,000. Quarry LP boosted its position in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the period. West Financial Advisors LLC boosted its holdings in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares during the period. Hobbs Group Advisors LLC purchased a new position in Cisco Systems in the 2nd quarter valued at approximately $36,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in Cisco Systems in the third quarter valued at $40,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, Director Kristina M. Johnson sold 7,500 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the completion of the transaction, the director now owns 65,915 shares in the company, valued at approximately $3,946,331.05. This represents a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 171,744 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 351,860 shares of company stock worth $20,231,558. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Down 0.4 %

CSCO stock opened at $58.72 on Wednesday. The company has a fifty day moving average price of $56.65 and a 200 day moving average price of $51.05. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $60.23. The company has a market cap of $233.87 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 4.39 and a beta of 0.85. 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 (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the prior year, the business earned $0.98 EPS. The firm’s revenue was down 5.6% compared to the same quarter last year. Sell-side analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.72%. Cisco Systems’s payout ratio is currently 68.67%.

Analyst Ratings Changes

CSCO has been the subject of several recent research reports. UBS Group lifted their price objective on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Evercore ISI lifted their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Morgan Stanley lifted their price objective on shares of Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Finally, Piper Sandler lifted 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. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.94.

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.