Red Door Wealth Management LLC Acquires 12,892 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Red Door Wealth Management LLC boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 9.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 147,798 shares of the network equipment provider’s stock after acquiring an additional 12,892 shares during the period. Cisco Systems accounts for about 1.3% of Red Door Wealth Management LLC’s portfolio, making the stock its 20th biggest position. Red Door Wealth Management LLC’s holdings in Cisco Systems were worth $8,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Fred Alger Management LLC increased its holdings in shares of Cisco Systems by 5.8% during the second quarter. Fred Alger Management LLC now owns 100,310 shares of the network equipment provider’s stock worth $4,766,000 after buying an additional 5,471 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Cisco Systems during the second quarter worth $2,269,000. Dimension Capital Management LLC increased its holdings in Cisco Systems by 4.3% in the second quarter. Dimension Capital Management LLC now owns 8,956 shares of the network equipment provider’s stock valued at $426,000 after purchasing an additional 373 shares during the period. Daymark Wealth Partners LLC boosted its holdings in Cisco Systems by 4.3% in the second quarter. Daymark Wealth Partners LLC now owns 404,090 shares of the network equipment provider’s stock valued at $19,198,000 after acquiring an additional 16,830 shares during the last quarter. Finally, MBB Public Markets I LLC raised its holdings in Cisco Systems by 1,409.3% during the 2nd quarter. MBB Public Markets I LLC now owns 287,965 shares of the network equipment provider’s stock worth $13,681,000 after purchasing an additional 268,885 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares in the company, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 586 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the transaction, the senior vice president now owns 50,767 shares of the company’s stock, valued at $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 in the last three months. 0.01% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on CSCO. Piper Sandler boosted their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Citigroup increased their target price on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. UBS Group boosted their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Finally, Morgan Stanley raised their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus target price of $61.50.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $62.23 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The stock has a market cap of $247.85 billion, a price-to-earnings ratio of 26.71, a P/E/G ratio of 4.54 and a beta of 0.84. The stock’s 50-day moving average is $59.04 and its 200 day moving average is $53.86. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $62.32.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly 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. 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 analyst estimates of $13.78 billion. During the same quarter last year, the firm earned $0.98 EPS. The company’s revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.

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.