Ables Iannone Moore & Associates Inc. Takes Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Ables Iannone Moore & Associates Inc. acquired a new stake in shares of 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 firm acquired 2,319 shares of the network equipment provider’s stock, valued at approximately $117,000.

Several other large investors also recently made changes to their positions in CSCO. Charles Schwab Investment Management Inc. grew its holdings in Cisco Systems by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock valued at $3,672,445,000 after purchasing an additional 6,345,954 shares during the last quarter. Northern Trust Corp grew its holdings in Cisco Systems by 3.8% during the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock valued at $2,717,537,000 after purchasing an additional 1,847,682 shares during the last quarter. Norges Bank acquired a new position in Cisco Systems during the fourth quarter valued at approximately $2,528,939,000. Wellington Management Group LLP grew its stake in shares of Cisco Systems by 7.6% in the fourth quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock worth $2,384,334,000 after acquiring an additional 3,314,330 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Cisco Systems by 12.3% in the fourth quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock worth $1,260,033,000 after acquiring an additional 2,723,260 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 0.0 %

NASDAQ CSCO opened at $45.69 on Tuesday. Cisco Systems, Inc. has a 52 week low of $44.95 and a 52 week high of $58.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The stock’s 50 day moving average price is $47.36 and its two-hundred day moving average price is $48.89. The stock has a market capitalization of $184.08 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 2.65 and a beta of 0.86.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. As a group, analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s payout ratio is 53.87%.

Insiders Place Their Bets

In related news, SVP Maria Victoria Wong sold 3,378 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the transaction, the senior vice president now owns 52,953 shares in the company, valued at $2,430,013.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the transaction, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 3,378 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the sale, the senior vice president now owns 52,953 shares of the company’s stock, valued at $2,430,013.17. The disclosure for this sale can be found here. Insiders have sold 41,106 shares of company stock worth $1,908,923 in the last 90 days. Company insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

CSCO has been the topic of several research analyst reports. Barclays raised their price objective on shares of Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, May 17th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, April 9th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Monday, June 10th. Piper Sandler reiterated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research note on Wednesday, June 5th. Finally, Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $55.00 to $60.00 in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and an average target price of $56.47.

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.