StrongBox Wealth LLC Has $1.64 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

StrongBox Wealth LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 27,683 shares of the network equipment provider’s stock after selling 3,794 shares during the period. StrongBox Wealth LLC’s holdings in Cisco Systems were worth $1,639,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Quest Partners LLC purchased a new position in shares of Cisco Systems in the 2nd quarter worth approximately $62,000. Lumbard & Kellner LLC boosted its stake in shares of Cisco Systems by 1.0% in the 2nd quarter. Lumbard & Kellner LLC now owns 105,076 shares of the network equipment provider’s stock worth $4,992,000 after buying an additional 1,011 shares during the last quarter. E Fund Management Co. Ltd. boosted its stake in shares of Cisco Systems by 19.7% in the 2nd quarter. E Fund Management Co. Ltd. now owns 100,518 shares of the network equipment provider’s stock worth $4,776,000 after buying an additional 16,554 shares during the last quarter. Meridian Wealth Partners LLC boosted its stake in shares of Cisco Systems by 6.4% in the 2nd quarter. Meridian Wealth Partners LLC now owns 4,709 shares of the network equipment provider’s stock worth $224,000 after buying an additional 282 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Cisco Systems by 4.7% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 149,542 shares of the network equipment provider’s stock worth $7,105,000 after buying an additional 6,761 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the transaction, the senior vice president now owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total transaction of $180,055.98. Following the transaction, the executive vice president now directly owns 207,798 shares of the company’s stock, valued at $12,299,563.62. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock valued at $20,349,721 over the last three months. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $59.98 on Thursday. The company has a 50-day simple moving average of $58.79 and a two-hundred day simple moving average of $53.34. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $60.34. The firm has a market cap of $238.89 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 4.37 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. On average, equities analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CSCO shares. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Evercore ISI boosted their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Wells Fargo & Company lifted their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, Piper Sandler lifted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $61.28.

Cisco Systems Profile

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.