Newfound Research LLC Purchases New Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Newfound Research LLC purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,394 shares of the network equipment provider’s stock, valued at approximately $76,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Washington Capital Management Inc. boosted its holdings in shares of Cisco Systems by 0.7% in the second quarter. Washington Capital Management Inc. now owns 24,265 shares of the network equipment provider’s stock valued at $1,286,000 after acquiring an additional 180 shares during the period. Burke & Herbert Bank & Trust Co. boosted its holdings in shares of Cisco Systems by 0.7% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 27,764 shares of the network equipment provider’s stock valued at $1,471,000 after acquiring an additional 183 shares during the period. Affinity Capital Advisors LLC boosted its holdings in shares of Cisco Systems by 1.6% in the second quarter. Affinity Capital Advisors LLC now owns 11,340 shares of the network equipment provider’s stock valued at $601,000 after acquiring an additional 183 shares during the period. Calamos Wealth Management LLC boosted its holdings in shares of Cisco Systems by 0.8% in the second quarter. Calamos Wealth Management LLC now owns 24,197 shares of the network equipment provider’s stock valued at $1,282,000 after acquiring an additional 190 shares during the period. Finally, Adams Chetwood Wealth Management LLC boosted its holdings in shares of Cisco Systems by 0.9% in the second quarter. Adams Chetwood Wealth Management LLC now owns 22,401 shares of the network equipment provider’s stock valued at $1,187,000 after acquiring an additional 195 shares during the period. 71.75% of the stock is owned by hedge funds and other institutional investors.

Shares of CSCO stock traded up $0.24 during trading hours on Thursday, reaching $55.54. 19,324,937 shares of the company’s stock were exchanged, compared to its average volume of 18,948,041. Cisco Systems, Inc. has a fifty-two week low of $42.21 and a fifty-two week high of $60.27. The stock has a market capitalization of $234.25 billion, a P/E ratio of 20.65, a P/E/G ratio of 2.48 and a beta of 0.92. The business has a fifty day moving average price of $55.81 and a 200-day moving average price of $55.24. The company has a quick ratio of 1.54, a current ratio of 1.62 and a debt-to-equity ratio of 0.21.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Tuesday, November 16th. The network equipment provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. The company had revenue of $12.90 billion during the quarter, compared to analyst estimates of $12.98 billion. Cisco Systems had a return on equity of 30.59% and a net margin of 22.44%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 earnings per share. As a group, research analysts expect that Cisco Systems, Inc. will post 3.07 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 27th. Investors of record on Tuesday, October 5th were paid a $0.37 dividend. The ex-dividend date was Monday, October 4th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.66%. Cisco Systems’s payout ratio is 55.02%.

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group set a $64.00 price target on Cisco Systems in a report on Thursday, September 16th. Westpark Capital assumed coverage on Cisco Systems in a report on Friday, September 24th. They set a “hold” rating and a $62.00 price target for the company. Piper Sandler increased their price objective on Cisco Systems from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, September 16th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Thursday, September 16th. Finally, Citigroup upped their price target on shares of Cisco Systems from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $62.24.

In related news, SVP Prat Bhatt sold 12,722 shares of the company’s stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $54.80, for a total value of $697,165.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.02% of the company’s stock.

About Cisco Systems

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.

Featured Article: Understanding debt-to-equity ratio in fundamental analysis

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.