CIBC Private Wealth Group LLC Has $500.39 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

CIBC Private Wealth Group LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,452,485 shares of the network equipment provider’s stock after selling 266,075 shares during the quarter. Cisco Systems accounts for approximately 0.9% of CIBC Private Wealth Group LLC’s investment portfolio, making the stock its 17th largest holding. CIBC Private Wealth Group LLC’s holdings in Cisco Systems were worth $500,387,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. FPC Investment Advisory Inc. bought a new position in Cisco Systems during the 4th quarter worth about $26,000. Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems during the fourth quarter valued at approximately $30,000. Campbell Capital Management Inc. bought a new stake in shares of Cisco Systems during the 4th quarter valued at approximately $31,000. Highline Wealth Partners LLC increased its position in 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 acquiring an additional 260 shares during the period. Finally, Synergy Investment Management LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth $36,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CSCO shares. Piper Sandler restated a “neutral” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Morgan Stanley boosted their price target on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group boosted their target price on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and an average price target of $66.63.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. The trade was a 1.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the sale, the senior vice president now owns 44,155 shares in the company, valued at approximately $2,693,013.45. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock valued at $4,275,553 over the last 90 days. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Down 0.9 %

NASDAQ CSCO opened at $60.86 on Friday. The stock has a fifty day moving average of $62.11 and a 200-day moving average of $58.54. The stock has a market capitalization of $242.12 billion, a P/E ratio of 26.58, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. On average, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is presently 71.62%.

Cisco Systems announced that its board has authorized a share buyback plan on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.