Entropy Technologies LP Makes New $3.84 Million Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Entropy Technologies LP purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 64,797 shares of the network equipment provider’s stock, valued at approximately $3,836,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Highline Wealth Partners LLC increased its stake 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 valued at $35,000 after purchasing an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Cisco Systems during the 3rd quarter valued at $40,000. Decker Retirement Planning Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter valued at $49,000. Capital Performance Advisors LLP acquired a new stake in shares of Cisco Systems during the 3rd quarter valued at $51,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Cisco Systems during the 3rd quarter valued at $56,000. Institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CSCO. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $73.00 in a report on Monday, January 6th. 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 report on Thursday, November 14th. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a research report on Tuesday, January 28th. Citigroup boosted their target price on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, Piper Sandler boosted their target price on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and a consensus target price of $62.72.

Cisco Systems Price Performance

Cisco Systems stock opened at $62.27 on Friday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $63.25. 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 business’s 50 day simple moving average is $59.71 and its 200 day simple moving average is $54.98. The company has a market cap of $248.01 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 4.63 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, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 earnings per share. Sell-side analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 586 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the transaction, the senior vice president now directly owns 50,767 shares in the company, valued at approximately $2,979,515.23. The trade was a 1.14 % 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.

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.