GDS Wealth Management Purchases Shares of 3,471 Cisco Systems, Inc. (NASDAQ:CSCO)

GDS Wealth Management acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,471 shares of the network equipment provider’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSCO. Morse Asset Management Inc bought a new position in Cisco Systems during the third quarter worth $798,000. HighVista Strategies LLC acquired a new position in Cisco Systems in the third quarter valued at approximately $1,698,000. GAMMA Investing LLC boosted its holdings in shares of Cisco Systems by 13.1% during the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after buying an additional 10,813 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its position in shares of Cisco Systems by 10.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after buying an additional 162,544 shares during the period. Finally, Oddo BHF Asset Management Sas bought a new stake in shares of Cisco Systems in the 3rd quarter valued at $502,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the sale, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the business’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 transaction of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have 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.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. 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 report on Thursday, November 14th. Tigress Financial boosted their price target 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. 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 note on Tuesday, December 17th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Finally, BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a research report on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and an average price target of $62.72.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $61.34 on Wednesday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $62.31. The firm’s 50-day simple moving average is $59.49 and its two-hundred day simple moving average is $54.67. The firm has a market cap of $244.30 billion, a price-to-earnings ratio of 26.33, a P/E/G ratio of 4.51 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a dividend of $0.40 per share. The ex-dividend date was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.61%. Cisco Systems’s payout ratio is 68.67%.

About Cisco Systems

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.