Franklin Street Advisors Inc. NC Grows Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Franklin Street Advisors Inc. NC raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 85,663 shares of the network equipment provider’s stock after acquiring an additional 2,290 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Cisco Systems were worth $5,071,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CSCO. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Cisco Systems by 59.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after buying an additional 288,775 shares during the period. Morse Asset Management Inc purchased a new stake in shares of Cisco Systems during the 3rd quarter valued at about $798,000. Citizens Financial Group Inc. RI grew its position in Cisco Systems by 24.4% during the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after buying an additional 51,924 shares during the period. HighVista Strategies LLC bought a new position in Cisco Systems in the third quarter worth approximately $1,698,000. Finally, GAMMA Investing LLC increased its stake in shares of Cisco Systems by 13.1% in the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after purchasing an additional 10,813 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In other Cisco Systems news, Director Kristina M. Johnson sold 7,500 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $59.87, for a total transaction of $449,025.00. Following the sale, the director now directly owns 65,915 shares of the company’s stock, valued at $3,946,331.05. This trade represents a 10.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the transaction, the executive vice president now owns 213,834 shares of the company’s stock, valued at $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 in the last three months. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Down 0.9 %

CSCO stock traded down $0.54 during trading on Friday, hitting $58.66. 4,450,333 shares of the company’s stock traded hands, compared to its average volume of 14,823,082. The business has a fifty day simple moving average of $58.60 and a two-hundred day simple moving average of $53.02. The firm has a market capitalization of $233.63 billion, a P/E ratio of 25.18, a PEG ratio of 4.37 and a beta of 0.84. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $60.23. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same period last year, the firm posted $0.98 earnings per share. The company’s revenue was down 5.6% compared to the same quarter last year. Sell-side analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS 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 issued a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.73%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CSCO. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley raised their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company increased their price target on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. UBS Group boosted their price objective on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, Piper Sandler lifted their target price on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.28.

Cisco Systems 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.