First Affirmative Financial Network Has $1.24 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

First Affirmative Financial Network increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,970 shares of the network equipment provider’s stock after acquiring an additional 1,257 shares during the quarter. Cisco Systems accounts for about 0.7% of First Affirmative Financial Network’s holdings, making the stock its 25th largest position. First Affirmative Financial Network’s holdings in Cisco Systems were worth $1,241,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CSCO. West Financial Advisors LLC increased its holdings in shares of Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares during the period. Highline Wealth Partners LLC grew its position in Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares in the last quarter. Quarry LP increased its stake in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in Cisco Systems in the 3rd quarter worth approximately $40,000. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter valued at $49,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CSCO shares. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. UBS Group boosted their price target on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Piper Sandler raised their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $62.72.

Insider Buying and Selling

In other news, EVP Thimaya K. Subaiya sold 3,042 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total transaction 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 trade represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $4,964,318.99. Following the completion of the transaction, the chief financial officer now directly owns 365,314 shares in the company, valued at approximately $21,001,901.86. This represents a 19.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 over the last quarter. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 0.2 %

Shares of Cisco Systems stock opened at $59.55 on Thursday. The company has a market cap of $237.17 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 4.59 and a beta of 0.84. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $62.31. The company’s fifty day simple moving average is $59.30 and its 200-day simple moving average is $54.32. 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 (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating 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 business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Cisco Systems 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.