Patriot Financial Group Insurance Agency LLC Has $1.89 Million Stock Position in Cisco Systems, Inc. $CSCO

Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 224.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 24,516 shares of the network equipment provider’s stock after buying an additional 16,963 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Cisco Systems were worth $1,889,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Next Level Wealth Planning LLC acquired a new position in shares of Cisco Systems during the 4th quarter worth $203,000. Asset Dedication LLC grew its stake in Cisco Systems by 3.9% in the 4th quarter. Asset Dedication LLC now owns 49,420 shares of the network equipment provider’s stock valued at $3,807,000 after buying an additional 1,837 shares during the last quarter. Main Street Group LTD grew its stake in Cisco Systems by 10.1% in the 4th quarter. Main Street Group LTD now owns 2,971 shares of the network equipment provider’s stock valued at $229,000 after buying an additional 273 shares during the last quarter. Moss Adams Wealth Advisors LLC grew its stake in Cisco Systems by 1.8% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 17,433 shares of the network equipment provider’s stock valued at $1,343,000 after buying an additional 300 shares during the last quarter. Finally, SMART Wealth LLC acquired a new position in Cisco Systems in the 4th quarter valued at $322,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $86.25 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85. The firm has a market capitalization of $340.68 billion, a price-to-earnings ratio of 30.26, a P/E/G ratio of 3.19 and a beta of 0.83. The company’s fifty day moving average is $79.86 and its two-hundred day moving average is $76.67. Cisco Systems, Inc. has a 52-week low of $53.83 and a 52-week high of $88.18.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.02. The company had revenue of $15.35 billion for the quarter, compared to analyst estimates of $15.11 billion. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the business posted $0.94 EPS. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be given a dividend of $0.42 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, April 2nd. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. Cisco Systems’s dividend payout ratio (DPR) is presently 58.95%.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 1,744 shares of Cisco Systems stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $77.07, for a total transaction of $134,410.08. Following the sale, the executive vice president directly owned 156,693 shares in the company, valued at approximately $12,076,329.51. The trade was a 1.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 7,981 shares of Cisco Systems stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $79.50, for a total transaction of $634,489.50. Following the sale, the executive vice president owned 187,097 shares in the company, valued at approximately $14,874,211.50. This trade represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 46,431 shares of company stock worth $3,574,820 in the last 90 days. 0.01% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Cisco Systems from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday. CICC Research raised their target price on shares of Cisco Systems from $84.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Zacks Research lowered shares of Cisco Systems from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Truist Financial assumed coverage on shares of Cisco Systems in a research note on Tuesday, March 31st. They issued a “buy” rating and a $94.00 target price on the stock. Finally, DZ Bank upgraded shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, February 13th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.81.

Cisco Systems Company Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.