Wolff Wiese Magana LLC Boosts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Wolff Wiese Magana LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,199 shares of the network equipment provider’s stock after buying an additional 339 shares during the quarter. Cisco Systems comprises about 1.7% of Wolff Wiese Magana LLC’s holdings, making the stock its 18th largest position. Wolff Wiese Magana LLC’s holdings in Cisco Systems were worth $2,557,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. West Financial Advisors LLC boosted its holdings in shares of Cisco Systems by 116.6% in the 3rd 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 holdings in shares of Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares in the last quarter. Quarry LP boosted its holdings in shares of Cisco Systems by 222.4% in 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 in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of Cisco Systems in the 3rd quarter worth about $40,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Cisco Systems in the 3rd quarter worth about $51,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a document filed 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 that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock worth $20,349,721 over the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $59.79 on Wednesday. The stock has a market cap of $238.13 billion, a PE ratio of 25.66, a P/E/G ratio of 4.37 and a beta of 0.85. The business’s 50-day simple moving average is $58.79 and its two-hundred day simple moving average is $53.34. 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, Inc. has a 52 week low of $44.50 and a 52 week high of $60.23.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion during 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%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 earnings per share. As a group, analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given 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 dividend yield of 2.68%. Cisco Systems’s payout ratio is 68.67%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Piper Sandler upped their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Barclays upped their price target on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Finally, Tigress Financial upped their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.28.

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.