Alpha DNA Investment Management LLC bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,298 shares of the network equipment provider’s stock, valued at approximately $102,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Hussman Strategic Advisors Inc. bought a new stake in Cisco Systems in the fourth quarter valued at approximately $1,835,000. Tealwood Asset Management Inc. grew its stake in shares of Cisco Systems by 80.2% in the fourth quarter. Tealwood Asset Management Inc. now owns 65,171 shares of the network equipment provider’s stock worth $2,916,000 after acquiring an additional 29,009 shares during the last quarter. Doyle Wealth Management grew its stake in shares of Cisco Systems by 38.5% in the fourth quarter. Doyle Wealth Management now owns 27,623 shares of the network equipment provider’s stock worth $1,236,000 after acquiring an additional 7,672 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of Cisco Systems by 16.1% during the fourth quarter. IFM Investors Pty Ltd now owns 406,899 shares of the network equipment provider’s stock valued at $18,209,000 after purchasing an additional 56,489 shares in the last quarter. Finally, Family Firm Inc. lifted its holdings in shares of Cisco Systems by 9.9% during the fourth quarter. Family Firm Inc. now owns 7,213 shares of the network equipment provider’s stock valued at $328,000 after purchasing an additional 649 shares in the last quarter. Institutional investors own 70.62% of the company’s stock.
CSCO has been the topic of a number of research analyst reports. Oppenheimer reaffirmed a “buy” rating and set a $50.00 price target on shares of Cisco Systems in a report on Tuesday, February 9th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Thursday, February 11th. Piper Sandler upped their price target on Cisco Systems from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, February 10th. Credit Suisse Group increased their target price on Cisco Systems from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Wednesday, February 10th. Finally, Raymond James increased their target price on Cisco Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, February 10th. Thirteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $49.48.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.03. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.92 billion. Cisco Systems had a return on equity of 32.64% and a net margin of 21.76%. During the same period in the previous year, the company posted $0.77 EPS. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 2.86 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 28th. Stockholders of record on Tuesday, April 6th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, April 5th. This is an increase from Cisco Systems’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.86%. Cisco Systems’s dividend payout ratio (DPR) is currently 50.68%.
In other Cisco Systems news, EVP Mark D. Chandler sold 3,024 shares of the business’s stock in a transaction dated Friday, February 12th. The stock was sold at an average price of $47.21, for a total transaction of $142,763.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Prat Bhatt sold 6,273 shares of the business’s stock in a transaction dated Friday, February 12th. The shares were sold at an average price of $47.21, for a total value of $296,148.33. Following the sale, the chief accounting officer now owns 119,282 shares in the company, valued at approximately $5,631,303.22. The disclosure for this sale can be found here. Insiders sold a total of 37,776 shares of company stock worth $1,832,205 over the last quarter. Company insiders own 0.02% of the company’s stock.
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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