Winthrop Advisory Group LLC Increases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Winthrop Advisory Group LLC lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.9% during the fourth quarter, Holdings Channel reports. The firm owned 9,223 shares of the network equipment provider’s stock after acquiring an additional 513 shares during the quarter. Winthrop Advisory Group LLC’s holdings in Cisco Systems were worth $546,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its position in shares of Cisco Systems by 1.7% during the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after purchasing an additional 3,241,682 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Cisco Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after purchasing an additional 1,262,017 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Cisco Systems by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after purchasing an additional 1,677,383 shares in the last quarter. FMR LLC increased its position in Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after acquiring an additional 5,885,879 shares during the period. Finally, Legal & General Group Plc increased its position in Cisco Systems by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after acquiring an additional 1,530,468 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Richard Scott Herren sold 86,351 shares of the company’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 sale, the chief financial officer now owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. The trade was a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 353,522 shares of company stock worth $20,349,721. Insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Morgan Stanley boosted their price target on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler boosted their price target on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Wells Fargo & Company lifted their price objective on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Finally, UBS Group lifted their price objective on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Eight investment 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $61.28.

Cisco Systems Price Performance

CSCO stock traded down $0.23 on Monday, reaching $58.51. The company had a trading volume of 2,897,551 shares, compared to its average volume of 14,852,034. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $60.23. 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 company’s fifty day moving average is $58.67 and its 200 day moving average is $53.18. The company has a market cap of $233.03 billion, a P/E ratio of 25.11, a PEG ratio of 4.37 and a beta of 0.84.

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

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.