Reliant Investment Management LLC Raises Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Reliant Investment Management LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,740 shares of the network equipment provider’s stock after purchasing an additional 215 shares during the quarter. Reliant Investment Management LLC’s holdings in Cisco Systems were worth $517,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Seven Eight Capital LP purchased a new position in shares of Cisco Systems in the 2nd quarter worth $242,000. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Cisco Systems by 27.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 220,894 shares of the network equipment provider’s stock valued at $10,495,000 after purchasing an additional 47,590 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Cisco Systems by 3.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 14,811 shares of the network equipment provider’s stock valued at $718,000 after purchasing an additional 540 shares in the last quarter. DRW Securities LLC increased its holdings in Cisco Systems by 90.2% in the 2nd quarter. DRW Securities LLC now owns 22,283 shares of the network equipment provider’s stock valued at $1,059,000 after purchasing an additional 10,567 shares in the last quarter. Finally, Certified Advisory Corp increased its holdings in Cisco Systems by 9.7% in the 2nd quarter. Certified Advisory Corp now owns 6,075 shares of the network equipment provider’s stock valued at $289,000 after purchasing an additional 538 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 0.7 %

NASDAQ CSCO opened at $60.23 on Tuesday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $60.95. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock has a market cap of $239.88 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 4.37 and a beta of 0.84. The firm’s 50 day moving average price is $58.91 and its two-hundred day moving average price is $53.61.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same period in the previous year, the company posted $0.98 EPS. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. Equities analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.66%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the completion of the sale, the senior vice president now owns 51,931 shares of the company’s stock, valued at $3,101,838.63. This trade represents a 8.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction 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 sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 353,522 shares of company stock worth $20,349,721. Corporate insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CSCO. Tigress Financial increased their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Piper Sandler raised their target price on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Barclays raised their target price on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Wells Fargo & Company raised their target price on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $61.50.

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.