Encompass Wealth Advisors LLC acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,126 shares of the network equipment provider’s stock, valued at approximately $50,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Defined Wealth Management LLC bought a new position in shares of Cisco Systems in the 4th quarter valued at about $34,000. Childress Capital Advisors LLC bought a new position in Cisco Systems during the fourth quarter worth about $449,000. tru Independence LLC grew its holdings in Cisco Systems by 11.0% during the fourth quarter. tru Independence LLC now owns 84,254 shares of the network equipment provider’s stock worth $3,771,000 after purchasing an additional 8,338 shares during the period. Amundi Pioneer Asset Management Inc. grew its holdings in Cisco Systems by 15.0% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 8,624,072 shares of the network equipment provider’s stock worth $385,894,000 after purchasing an additional 1,124,102 shares during the period. Finally, Tealwood Asset Management Inc. boosted its holdings in shares of Cisco Systems by 80.2% during the fourth quarter. Tealwood Asset Management Inc. now owns 65,171 shares of the network equipment provider’s stock worth $2,916,000 after acquiring an additional 29,009 shares during the period. Institutional investors own 70.62% of the company’s stock.
Shares of CSCO opened at $51.77 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.54 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $218.56 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 2.54 and a beta of 0.95. The firm’s fifty day simple moving average is $48.45 and its two-hundred day simple moving average is $43.93. Cisco Systems, Inc. has a 12 month low of $35.28 and a 12 month high of $52.94.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 28th. Stockholders of record on Tuesday, April 6th will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, April 5th. This represents a $1.48 annualized dividend and a dividend yield of 2.86%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.36. Cisco Systems’s dividend payout ratio is currently 50.68%.
A number of brokerages have recently issued reports on CSCO. Raymond James boosted their price objective on Cisco Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, February 10th. Piper Sandler boosted their price objective on Cisco Systems from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, February 10th. Credit Suisse Group lifted their price target on shares of Cisco Systems from $41.00 to $46.00 and gave the company a “neutral” rating in a research report on Wednesday, February 10th. The Goldman Sachs Group upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $50.00 to $59.00 in a research report on Wednesday, March 31st. Finally, JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and set a $55.00 price target for the company in a research report on Thursday, March 11th. Thirteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $49.48.
In other news, CAO Prat Bhatt sold 6,273 shares of the company’s stock in a transaction dated Friday, February 12th. The shares were sold at an average price of $47.21, for a total transaction of $296,148.33. Following the transaction, the chief accounting officer now owns 119,282 shares in the company, valued at $5,631,303.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark D. Chandler sold 3,024 shares of the company’s stock in a transaction dated Friday, February 12th. The stock was sold at an average price of $47.21, for a total transaction of $142,763.04. The disclosure for this sale can be found here. Insiders have sold 37,776 shares of company stock worth $1,832,205 in the last quarter. Company insiders own 0.02% 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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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