Ellsworth Advisors LLC Acquires 1,711 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Ellsworth Advisors LLC boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,744 shares of the network equipment provider’s stock after purchasing an additional 1,711 shares during the quarter. Cisco Systems comprises approximately 1.6% of Ellsworth Advisors LLC’s investment portfolio, making the stock its 11th biggest position. Ellsworth Advisors LLC’s holdings in Cisco Systems were worth $6,201,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. West Financial Advisors LLC boosted its holdings in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares during the period. Highline Wealth Partners LLC boosted its holdings in shares of Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares during the period. Quarry LP grew its position in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems during the third quarter worth approximately $40,000. Finally, Decker Retirement Planning Inc. acquired a new stake in Cisco Systems during the 4th quarter worth approximately $49,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $66.00 to $73.00 in a report on Monday, January 6th. Piper Sandler raised their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Tigress Financial raised their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Bank of America lifted their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and an average price target of $61.50.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $60.23 on Monday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $60.95. The stock has a market cap of $239.88 billion, a PE ratio of 25.85, a PEG ratio of 4.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The firm’s fifty day moving average price is $58.91 and its two-hundred day moving average price is $53.57.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 EPS. On average, equities analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the transaction, the senior vice president now owns 50,767 shares in the company, valued at approximately $2,979,515.23. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard Scott Herren sold 86,351 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction 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 approximately $21,001,901.86. This represents a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 353,522 shares of company stock worth $20,349,721. Company insiders own 0.01% 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.