Cranbrook Wealth Management LLC Acquires 385 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Cranbrook Wealth Management LLC lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 7,780 shares of the network equipment provider’s stock after purchasing an additional 385 shares during the quarter. Cranbrook Wealth Management LLC’s holdings in Cisco Systems were worth $461,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its position in Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after purchasing an additional 3,241,682 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Cisco Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock valued at $5,075,320,000 after buying an additional 1,262,017 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Cisco Systems by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock valued at $4,402,239,000 after acquiring an additional 1,677,383 shares in the last quarter. FMR LLC raised its holdings in Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after acquiring an additional 5,885,879 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Cisco Systems by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after acquiring an additional 1,530,468 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 0.7 %

Cisco Systems stock opened at $60.23 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $60.95. The firm has a market capitalization of $239.88 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 4.37 and a beta of 0.84. The firm has a 50 day moving average of $58.87 and a 200 day moving average of $53.43.

Cisco Systems (NASDAQ:CSCO) last announced 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. 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 company’s revenue was down 5.6% on a year-over-year basis. During the same period last year, the firm earned $0.98 EPS. As a group, research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Piper Sandler boosted their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Barclays boosted their target price on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Morgan Stanley lifted their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, 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 report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the sale, the senior vice president now owns 50,767 shares in the company, valued at $2,979,515.23. The trade was a 1.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is owned by corporate insiders.

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.