Naples Money Management LLC Acquires New Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Naples Money Management LLC bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 32,700 shares of the network equipment provider’s stock, valued at approximately $1,652,000. Cisco Systems comprises about 1.5% of Naples Money Management LLC’s investment portfolio, making the stock its 27th largest position.

Several other large investors also recently made changes to their positions in CSCO. Kathleen S. Wright Associates Inc. acquired a new stake in Cisco Systems during the third quarter valued at approximately $27,000. Valued Wealth Advisors LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth $32,000. Fortis Capital Advisors LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth $34,000. Morton Brown Family Wealth LLC raised its position in shares of Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the period. Finally, Bourgeon Capital Management LLC raised its position in shares of Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the topic of several recent analyst reports. Melius downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Piper Sandler upped their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Barclays increased their target price on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Finally, Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $60.00 in a report on Monday. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $56.03.

Cisco Systems Stock Up 0.4 %

Shares of CSCO stock traded up $0.21 on Friday, hitting $48.32. The company’s stock had a trading volume of 20,962,402 shares, compared to its average volume of 19,502,734. The stock has a market capitalization of $195.66 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 2.74 and a beta of 0.87. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19. The firm’s fifty day moving average price is $49.11 and its 200-day moving average price is $50.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 earnings per share. Research analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be given a $0.40 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.31%. Cisco Systems’s dividend payout ratio (DPR) is currently 48.63%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares of the company’s stock, valued at $16,424,550. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is owned by insiders.

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.