Tyche Wealth Partners LLC Invests $1.49 Million in Cisco Systems, Inc. (NASDAQ:CSCO)

Tyche Wealth Partners LLC purchased a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 29,577 shares of the network equipment provider’s stock, valued at approximately $1,494,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealthspire Advisors LLC lifted its position in Cisco Systems by 48.1% in the 3rd quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock valued at $3,838,000 after acquiring an additional 23,194 shares in the last quarter. HBK Sorce Advisory LLC lifted its position in Cisco Systems by 0.5% in the 3rd quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock valued at $3,448,000 after acquiring an additional 301 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Cisco Systems in the 4th quarter valued at $28,685,000. Adage Capital Partners GP L.L.C. lifted its position in Cisco Systems by 1.1% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock valued at $240,335,000 after acquiring an additional 49,700 shares in the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC lifted its position in Cisco Systems by 0.6% in the 4th quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock valued at $9,734,000 after acquiring an additional 1,097 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded down $0.32 during trading on Tuesday, hitting $47.92. 14,229,345 shares of the stock were exchanged, compared to its average volume of 19,646,592. The stock has a market capitalization of $194.04 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 2.78 and a beta of 0.87. The company has a fifty day moving average price of $49.22 and a 200-day moving average price of $50.37. Cisco Systems, Inc. has a 1-year low of $45.56 and a 1-year high of $58.19. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. During the same quarter in the prior year, the business earned $0.76 EPS. Cisco Systems’s quarterly revenue was down 5.9% on a year-over-year basis. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.15 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.34%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is 48.63%.

Analysts Set New Price Targets

CSCO has been the topic of several research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Barclays boosted their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Tuesday, April 9th. Finally, Piper Sandler boosted their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Cisco Systems presently has an average rating of “Hold” and a consensus price target of $56.03.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the sale, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,441 shares of company stock worth $972,080. Insiders own 0.02% of the company’s stock.

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.