Parsons Capital Management Inc. RI Raises Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Parsons Capital Management Inc. RI boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 59.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 177,534 shares of the network equipment provider’s stock after purchasing an additional 66,084 shares during the period. Parsons Capital Management Inc. RI’s holdings in Cisco Systems were worth $10,510,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CSCO. Heartland Bank & Trust Co bought a new position in Cisco Systems in the 4th quarter worth approximately $276,000. Ridgecrest Wealth Partners LLC lifted its position in shares of Cisco Systems by 1.9% during the fourth quarter. Ridgecrest Wealth Partners LLC now owns 26,887 shares of the network equipment provider’s stock worth $1,592,000 after acquiring an additional 496 shares in the last quarter. United Asset Strategies Inc. boosted its holdings in shares of Cisco Systems by 3.1% in the fourth quarter. United Asset Strategies Inc. now owns 50,053 shares of the network equipment provider’s stock worth $2,963,000 after acquiring an additional 1,494 shares during the period. Cornerstone Wealth Group LLC grew its position in shares of Cisco Systems by 13.2% in the fourth quarter. Cornerstone Wealth Group LLC now owns 9,565 shares of the network equipment provider’s stock valued at $566,000 after purchasing an additional 1,114 shares in the last quarter. Finally, waypoint wealth counsel raised its stake in shares of Cisco Systems by 1.7% during the 4th quarter. waypoint wealth counsel now owns 13,055 shares of the network equipment provider’s stock valued at $773,000 after purchasing an additional 214 shares during the period. 73.33% of the stock is owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction 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. The trade was a 17.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the sale, the executive vice president now owns 207,798 shares of the company’s stock, valued at approximately $12,299,563.62. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock worth $20,349,721 in the last quarter. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Price Performance

Shares of CSCO opened at $62.23 on Monday. The firm has a fifty day simple moving average of $59.22 and a two-hundred day simple moving average of $54.14. The firm has a market cap of $247.85 billion, a PE ratio of 26.71, a P/E/G ratio of 4.59 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $62.31.

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

Cisco Systems Announces Dividend

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

Analyst Ratings Changes

Several analysts have weighed in on CSCO shares. Barclays raised their price target on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Wells Fargo & Company increased their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Morgan Stanley increased their target price on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $61.50.

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. 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.