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

Atomi Financial Group Inc. raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,425 shares of the network equipment provider’s stock after purchasing an additional 2,685 shares during the quarter. Atomi Financial Group Inc.’s holdings in Cisco Systems were worth $1,446,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. West Financial Advisors LLC lifted its stake in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares during the last quarter. Highline Wealth Partners LLC increased its stake in Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares during the period. Quarry LP lifted 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 purchasing an additional 456 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Cisco Systems during the third quarter valued at $40,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Cisco Systems in the fourth quarter worth about $49,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO opened at $61.03 on Wednesday. The company has a 50 day moving average of $58.94 and a two-hundred day moving average of $53.70. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $61.33. The company has a market cap of $243.07 billion, a price-to-earnings ratio of 26.19, a price-to-earnings-growth ratio of 4.48 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $13.78 billion. During the same quarter last year, the firm earned $0.98 EPS. The business’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.62%. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value 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 approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the sale, the chief financial officer now directly owns 365,314 shares in the company, valued at $21,001,901.86. This trade represents a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 in the last three months. 0.01% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on CSCO. Piper Sandler lifted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $55.00 to $66.00 in a report on Monday, November 11th. Tigress Financial increased their price objective on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Morgan Stanley increased their price target on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $61.50.

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.