Tower View Wealth Management LLC Buys 15,791 Shares of Cisco Systems, Inc. $CSCO

Tower View Wealth Management LLC boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2,865.9% in the fourth quarter, Holdings Channel reports. The firm owned 16,342 shares of the network equipment provider’s stock after acquiring an additional 15,791 shares during the period. Tower View Wealth Management LLC’s holdings in Cisco Systems were worth $1,259,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Marquette Asset Management LLC bought a new stake in Cisco Systems during the third quarter worth approximately $25,000. Board of the Pension Protection Fund bought a new stake in Cisco Systems during the fourth quarter worth approximately $31,000. Lowe Wealth Advisors LLC boosted its position in Cisco Systems by 96.2% during the third quarter. Lowe Wealth Advisors LLC now owns 408 shares of the network equipment provider’s stock worth $28,000 after purchasing an additional 200 shares during the period. Cedar Mountain Advisors LLC boosted its position in Cisco Systems by 115.7% during the third quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider’s stock worth $32,000 after purchasing an additional 251 shares during the period. Finally, Holos Integrated Wealth LLC bought a new stake in Cisco Systems during the fourth quarter worth approximately $41,000. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of recent analyst reports. DZ Bank raised Cisco Systems to a “strong-buy” rating in a research report on Friday, February 13th. JPMorgan Chase & Co. increased their price objective on Cisco Systems from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. HSBC increased their price objective on Cisco Systems from $74.00 to $77.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Citigroup increased their price objective on Cisco Systems from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Finally, Truist Financial started coverage on Cisco Systems in a research report on Tuesday, March 31st. They issued a “buy” rating and a $94.00 price objective for the company. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.76.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 2,179 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $77.74, for a total value of $169,395.46. Following the completion of the transaction, the senior vice president directly owned 28,807 shares of the company’s stock, valued at $2,239,456.18. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Robbins sold 19,545 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $76.00, for a total value of $1,485,420.00. Following the completion of the transaction, the chief executive officer directly owned 671,095 shares of the company’s stock, valued at approximately $51,003,220. This trade represents a 2.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 46,431 shares of company stock valued at $3,574,820 over the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 0.2%

CSCO opened at $82.35 on Tuesday. Cisco Systems, Inc. has a 1-year low of $53.83 and a 1-year high of $88.18. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $325.27 billion, a price-to-earnings ratio of 28.89, a P/E/G ratio of 3.10 and a beta of 0.83. The business has a 50 day moving average of $79.77 and a 200-day moving average of $76.33.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.02. The company had revenue of $15.35 billion during the quarter, compared to analysts’ expectations of $15.11 billion. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.Cisco Systems’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 earnings per share. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.0%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, April 2nd. Cisco Systems’s dividend payout ratio (DPR) is 58.95%.

About Cisco Systems

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.