Walled Lake Planning & Wealth Management LLC Has $7.37 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Walled Lake Planning & Wealth Management LLC raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 124,552 shares of the network equipment provider’s stock after buying an additional 1,099 shares during the quarter. Cisco Systems makes up about 2.7% of Walled Lake Planning & Wealth Management LLC’s holdings, making the stock its 11th largest position. Walled Lake Planning & Wealth Management LLC’s holdings in Cisco Systems were worth $7,373,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CSCO. State Street Corp lifted its holdings in Cisco Systems by 1.7% during the third 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 stake 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. Norges Bank bought a new stake in Cisco Systems in the 4th quarter worth $3,297,905,000. Nordea Investment Management AB raised its position in Cisco Systems by 1.2% during the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock valued at $1,107,930,000 after purchasing an additional 216,632 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Cisco Systems by 7.0% in the 3rd quarter. Franklin Resources Inc. now owns 18,214,461 shares of the network equipment provider’s stock worth $988,499,000 after buying an additional 1,195,469 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of the business’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 owns 335,605 shares in the company, valued at approximately $21,616,318.05. This trade represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,547 shares of company stock valued at $4,275,553. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $60.86 on Friday. The company’s fifty day simple moving average is $62.11 and its 200-day simple moving average is $58.54. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The company has a market cap of $242.12 billion, a PE ratio of 26.58, a P/E/G ratio of 4.16 and a beta of 0.79.

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

Cisco Systems declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.69%. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CSCO shares. UBS Group boosted their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. StockNews.com downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 5th. Piper Sandler reiterated a “neutral” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.63.

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.