Cisco Systems, Inc. (NASDAQ:CSCO) Stock Holdings Raised by CCM Investment Advisers LLC

CCM Investment Advisers LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 326,303 shares of the network equipment provider’s stock after purchasing an additional 13,554 shares during the period. Cisco Systems comprises about 2.1% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 16th biggest holding. CCM Investment Advisers LLC’s holdings in Cisco Systems were worth $19,317,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. State Street Corp increased its holdings in shares of Cisco Systems by 1.7% in 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 acquiring an additional 3,241,682 shares during the last quarter. Geode Capital Management LLC raised 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 worth $5,075,320,000 after purchasing an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cisco Systems by 2.1% in the 3rd 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 buying an additional 1,677,383 shares during the period. FMR LLC grew its position in shares of Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after buying an additional 5,885,879 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Cisco Systems by 3.3% during the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after acquiring an additional 1,530,468 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CSCO. 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. Evercore ISI upped their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. 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 research report on Thursday, November 14th. Citigroup raised their price target on shares of Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, UBS Group increased their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.28.

Cisco Systems Trading Down 1.0 %

Shares of NASDAQ CSCO traded down $0.59 during mid-day trading on Friday, hitting $58.61. 4,648,728 shares of the company traded hands, compared to its average volume of 14,864,394. The business has a 50 day moving average of $58.60 and a two-hundred day moving average of $53.02. The stock has a market capitalization of $233.43 billion, a price-to-earnings ratio of 25.15, a PEG ratio of 4.37 and a beta of 0.84. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year 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.

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, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The firm’s revenue was down 5.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.73%. Cisco Systems’s payout ratio is presently 68.67%.

Insider Transactions at Cisco Systems

In other news, CFO Richard Scott Herren sold 86,351 shares of the 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 transaction, the chief financial officer now owns 365,314 shares in the company, valued at $21,001,901.86. This represents a 19.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the sale, the executive vice president now owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This represents a 9.03 % 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 over the last three months. 0.01% of the stock is owned by corporate insiders.

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.