TRU Independence Asset Management 2 LLC bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,126 shares of the network equipment provider’s stock, valued at approximately $50,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Costello Asset Management INC bought a new stake in shares of Cisco Systems in the fourth quarter worth $26,000. Bainco International Investors bought a new stake in shares of Cisco Systems in the fourth quarter worth $30,000. Navis Wealth Advisors LLC bought a new stake in shares of Cisco Systems in the fourth quarter worth $30,000. Goodwin Investment Advisory bought a new stake in shares of Cisco Systems in the fourth quarter worth $31,000. Finally, Defined Wealth Management LLC bought a new stake in shares of Cisco Systems in the fourth quarter worth $34,000. 70.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CSCO stock opened at $51.77 on Thursday. The stock has a market capitalization of $218.56 billion, a P/E ratio of 21.04, a PEG ratio of 2.54 and a beta of 0.95. The company has a current ratio of 1.59, a quick ratio of 1.54 and a debt-to-equity ratio of 0.25. The firm’s 50 day moving average is $48.45 and its 200 day moving average is $43.93. Cisco Systems, Inc. has a 12 month low of $35.28 and a 12 month high of $52.94.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.03. The company had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.92 billion. Cisco Systems had a net margin of 21.76% and a return on equity of 32.64%. During the same period in the prior year, the company posted $0.77 EPS. On average, equities analysts predict that Cisco Systems, Inc. will post 2.86 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 28th. Shareholders of record on Tuesday, April 6th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, April 5th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a yield of 2.86%. Cisco Systems’s dividend payout ratio is currently 50.68%.
Several equities analysts recently issued reports on CSCO shares. Citigroup boosted their target price on shares of Cisco Systems from $45.00 to $50.00 in a report on Wednesday, February 10th. Piper Sandler boosted their target price on shares of Cisco Systems from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, February 10th. Credit Suisse Group upped their price objective on shares of Cisco Systems from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Wednesday, February 10th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and set a $55.00 price objective on the stock in a report on Thursday, March 11th. Finally, The Goldman Sachs Group raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $50.00 to $59.00 in a research report on Wednesday, March 31st. Thirteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $49.48.
In other Cisco Systems news, Director M Michele Burns sold 13,982 shares of the stock in a transaction that occurred on Friday, March 26th. The shares were sold at an average price of $51.55, for a total value of $720,772.10. Following the sale, the director now directly owns 70,468 shares in the company, valued at approximately $3,632,625.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Prat Bhatt sold 6,273 shares of the stock in a transaction that occurred on Friday, February 12th. The stock was sold at an average price of $47.21, for a total transaction of $296,148.33. Following the completion of the sale, the chief accounting officer now owns 119,282 shares in the company, valued at $5,631,303.22. The disclosure for this sale can be found here. Insiders sold a total of 37,776 shares of company stock worth $1,832,205 over the last quarter. Corporate insiders own 0.02% of the company’s stock.
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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