Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 44.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,213 shares of the network equipment provider’s stock after purchasing an additional 19,112 shares during the quarter. Cisco Systems accounts for about 0.7% of Thurston Springer Miller Herd & Titak Inc.’s investment portfolio, making the stock its 20th largest holding. Thurston Springer Miller Herd & Titak Inc.’s holdings in Cisco Systems were worth $3,683,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. Quarry LP lifted its position in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares in the last quarter. West Financial Advisors LLC lifted its position in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares in the last quarter. Highline Wealth Partners LLC boosted its stake in shares of Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in Cisco Systems during the 3rd quarter worth $40,000. Finally, Capital Performance Advisors LLP acquired a new position in Cisco Systems in the 3rd quarter worth $51,000. 73.33% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
CSCO has been the subject of several recent analyst reports. Bank of America raised their target price on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Wells Fargo & Company upped their target price on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Morgan Stanley lifted their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus target price of $61.28.
Insiders Place Their Bets
In other Cisco Systems news, EVP Thimaya K. Subaiya sold 3,042 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total transaction of $180,055.98. Following the completion of the transaction, the executive vice president now directly owns 207,798 shares of the company’s stock, valued at approximately $12,299,563.62. This trade represents a 1.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $4,964,318.99. Following the completion of the sale, the chief financial officer now directly owns 365,314 shares in the company, valued at $21,001,901.86. This represents a 19.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is owned by company insiders.
Cisco Systems Stock Up 1.0 %
Cisco Systems stock opened at $59.33 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.23. The company has a 50-day simple moving average of $58.79 and a 200-day simple moving average of $53.34. The firm has a market capitalization of $236.30 billion, a P/E ratio of 25.46, a P/E/G ratio of 4.37 and a beta of 0.85.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 EPS. As a group, equities analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.
Cisco Systems Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.
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. 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.
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