Palacios Wealth Management LLC Buys New Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Palacios Wealth Management LLC bought a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,783 shares of the network equipment provider’s stock, valued at approximately $347,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its position in Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after buying an additional 3,241,682 shares during the last quarter. Geode Capital Management LLC raised its position in Cisco Systems by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock valued at $5,075,320,000 after buying an additional 1,262,017 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Cisco Systems by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock valued at $4,402,239,000 after buying an additional 1,677,383 shares during the last quarter. FMR LLC raised its position in Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after buying an additional 5,885,879 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Cisco Systems by 1.2% during the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock worth $1,107,930,000 after purchasing an additional 216,632 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

CSCO opened at $63.84 on Friday. The business has a fifty day simple moving average of $59.89 and a 200 day simple moving average of $55.36. The company has a market capitalization of $254.26 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 4.63 and a beta of 0.84. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Research analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems declared that its board has approved a share repurchase program on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.57%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is presently 68.67%.

Insider Activity

In other news, SVP Maria Victoria Wong sold 586 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares in the company, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the sale, the executive vice president now owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 37,239 shares of company stock worth $2,166,612. 0.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CSCO. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Piper Sandler boosted their price target on Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday. Wells Fargo & Company boosted their price target on Cisco Systems from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday. UBS Group boosted their price target on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a research report on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.53.

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.