Modern Wealth Management LLC Raises Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Modern Wealth Management LLC boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 80.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,401 shares of the network equipment provider’s stock after acquiring an additional 28,675 shares during the quarter. Modern Wealth Management LLC’s holdings in Cisco Systems were worth $4,045,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pflug Koory LLC increased its holdings in shares of Cisco Systems by 0.5% during the 4th quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock valued at $1,955,000 after purchasing an additional 165 shares in the last quarter. Fairhaven Wealth Management LLC increased its holdings in Cisco Systems by 2.3% in the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock valued at $449,000 after buying an additional 167 shares in the last quarter. BlackDiamond Wealth Management LLC raised its position in shares of Cisco Systems by 3.1% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock worth $335,000 after acquiring an additional 168 shares during the period. Maple Capital Management Inc. boosted its stake in shares of Cisco Systems by 1.4% during the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock worth $709,000 after acquiring an additional 170 shares in the last quarter. Finally, Pathway Financial Advisors LLC grew its position in shares of Cisco Systems by 3.1% during the 4th quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock valued at $343,000 after acquiring an additional 172 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Up 0.0 %

Shares of CSCO opened at $60.99 on Wednesday. The stock has a fifty day simple moving average of $62.03 and a two-hundred day simple moving average of $58.34. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $242.64 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, equities analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.69%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is presently 71.62%.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This trade represents a 1.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard Scott Herren sold 19,929 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the completion of the transaction, the chief financial officer now directly owns 335,605 shares in the company, valued at $21,616,318.05. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock valued at $4,275,553 over the last quarter. 0.01% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CSCO. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Morgan Stanley upped their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler reiterated a “neutral” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.63.

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.