Northcape Wealth Management LLC Raises Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Markets Daily

Northcape Wealth Management LLC lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 1.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 59,365 shares of the network equipment provider’s stock after purchasing an additional 963 shares during the period. Northcape Wealth Management LLC’s holdings in Cisco Systems were worth $3,159,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in Cisco Systems in the second quarter worth about $25,000. Quarry LP grew 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 purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC increased its stake in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Cisco Systems during the second quarter worth $36,000. Finally, Iron Horse Wealth Management LLC grew its holdings in shares of Cisco Systems by 617.7% during the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after buying an additional 766 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This represents a 6.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 22,309 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the completion of the transaction, the chief financial officer now directly owns 293,184 shares in the company, valued at $14,659,200. This trade represents a 7.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,924 shares of company stock worth $1,798,131. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Performance

CSCO opened at $57.46 on Friday. The firm’s fifty day simple moving average is $54.18 and its two-hundred day simple moving average is $49.76. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.38. The company has a market cap of $229.31 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 4.90 and a beta of 0.83. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 25.62% and a net margin of 17.73%. The company had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the previous year, the firm posted $1.01 EPS. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. Equities analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio is presently 68.67%.

Analyst Ratings Changes

A number of analysts have commented on the company. Barclays lifted their price target on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday. Jefferies Financial Group dropped their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Tigress Financial lifted their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Piper Sandler increased their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Citigroup raised their target price on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.42.

Check Out Our Latest Research Report on Cisco Systems

About Cisco Systems

(Free Report)

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.

Read More