Redwood Financial Network Corp Boosts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Redwood Financial Network Corp lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 8.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,948 shares of the network equipment provider’s stock after buying an additional 691 shares during the period. Redwood Financial Network Corp’s holdings in Cisco Systems were worth $358,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Gilbert & Cook Inc. raised its stake in shares of Cisco Systems by 1.3% during the 3rd quarter. Gilbert & Cook Inc. now owns 18,679 shares of the network equipment provider’s stock worth $833,000 after acquiring an additional 231 shares in the last quarter. Spinnaker Trust increased its position in shares of Cisco Systems by 0.3% during the third quarter. Spinnaker Trust now owns 91,276 shares of the network equipment provider’s stock worth $3,651,000 after purchasing an additional 233 shares in the last quarter. Outlook Wealth Advisors LLC raised its stake in Cisco Systems by 1.4% in the second quarter. Outlook Wealth Advisors LLC now owns 17,253 shares of the network equipment provider’s stock valued at $735,000 after buying an additional 235 shares during the last quarter. SignalPoint Asset Management LLC raised its position in shares of Cisco Systems by 1.9% in the 3rd quarter. SignalPoint Asset Management LLC now owns 12,685 shares of the network equipment provider’s stock valued at $507,000 after purchasing an additional 235 shares during the last quarter. Finally, Slow Capital Inc. lifted its stake in shares of Cisco Systems by 0.7% during the third quarter. Slow Capital Inc. now owns 35,970 shares of the network equipment provider’s stock worth $1,439,000 after buying an additional 237 shares during the period. 71.10% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $47.81 on Wednesday. Cisco Systems, Inc. has a 1-year low of $38.60 and a 1-year high of $57.69. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.34. The stock’s 50 day simple moving average is $48.07 and its 200-day simple moving average is $45.41. The company has a market cap of $196.44 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 2.31 and a beta of 0.99.

Cisco Systems (NASDAQ:CSCO – Get Rating) last announced its quarterly earnings results on Wednesday, November 16th. The network equipment provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.04. Cisco Systems had a net margin of 22.00% and a return on equity of 31.68%. The firm had revenue of $13.63 billion for the quarter, compared to analysts’ expectations of $13.29 billion. During the same quarter in the previous year, the company posted $0.73 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 3.16 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Thursday, January 5th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, January 4th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.18%. Cisco Systems’s dividend payout ratio is currently 54.87%.

Insider Activity

In other Cisco Systems news, CFO Richard Scott Herren sold 98,342 shares of the firm’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $50.03, for a total transaction of $4,920,050.26. Following the completion of the sale, the chief financial officer now owns 304,048 shares of the company’s stock, valued at $15,211,521.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Richard Scott Herren sold 98,342 shares of the stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $50.03, for a total transaction of $4,920,050.26. Following the completion of the transaction, the chief financial officer now directly owns 304,048 shares in the company, valued at approximately $15,211,521.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jeffery S. Sharritts sold 14,830 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $47.80, for a total value of $708,874.00. Following the sale, the executive vice president now directly owns 277,751 shares of the company’s stock, valued at $13,276,497.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 243,098 shares of company stock valued at $11,939,277. 0.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on CSCO shares. Piper Sandler upped their target price on Cisco Systems from $47.00 to $49.00 in a research report on Tuesday, January 17th. Morgan Stanley raised their target price on shares of Cisco Systems from $48.00 to $52.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 13th. Rosenblatt Securities cut their price target on Cisco Systems from $53.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, November 17th. Cowen boosted their price objective on Cisco Systems from $60.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, November 17th. Finally, StockNews.com raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, December 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $53.95.

About Cisco Systems

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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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.