Fifth Third Wealth Advisors LLC Increases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Fifth Third Wealth Advisors LLC grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,084 shares of the network equipment provider’s stock after acquiring an additional 2,296 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Cisco Systems were worth $3,320,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CSCO. SeaCrest Wealth Management LLC boosted its holdings in Cisco Systems by 0.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider’s stock worth $1,879,000 after buying an additional 178 shares in the last quarter. Aviso Wealth Management boosted its stake in shares of Cisco Systems by 2.4% during the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock valued at $405,000 after acquiring an additional 181 shares during the last quarter. Waypoint Capital Advisors LLC increased its position in Cisco Systems by 2.9% during the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after purchasing an additional 182 shares in the last quarter. Andina Capital Management LLC lifted its holdings in Cisco Systems by 3.6% in the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock valued at $279,000 after purchasing an additional 182 shares in the last quarter. Finally, Wealth Dimensions Group Ltd. boosted its stake in shares of Cisco Systems by 1.6% during the 3rd quarter. Wealth Dimensions Group Ltd. now owns 11,372 shares of the network equipment provider’s stock worth $605,000 after purchasing an additional 182 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 58,188 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $3,345,228.12. Following the completion of the sale, the executive vice president now directly owns 219,100 shares of the company’s stock, valued at $12,596,059. The trade was a 20.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the transaction, the senior vice president now directly owns 50,767 shares in the company, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock worth $20,349,721 in the last 90 days. 0.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Bank of America raised their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. UBS Group increased their target price on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $55.00 to $66.00 in a report on Monday, November 11th. Morgan Stanley increased their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Piper Sandler boosted their target price 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. 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.28.

Cisco Systems Trading Up 1.0 %

CSCO opened at $59.33 on Wednesday. The firm’s 50 day moving average is $58.79 and its 200-day moving average is $53.34. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $60.23. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $236.30 billion, a P/E ratio of 25.46, a P/E/G ratio of 4.37 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 EPS. Analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

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.