Cumberland Partners Ltd Buys New Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Cumberland Partners Ltd bought a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 4th quarter, HoldingsChannel reports. The firm bought 17,600 shares of the network equipment provider’s stock, valued at approximately $889,000.

Several other hedge funds have also modified their holdings of the stock. Waddell & Associates LLC grew its stake in Cisco Systems by 0.8% during the 3rd quarter. Waddell & Associates LLC now owns 24,693 shares of the network equipment provider’s stock valued at $1,328,000 after purchasing an additional 191 shares in the last quarter. Sax Wealth Advisors LLC boosted its position in Cisco Systems by 3.6% during the 3rd quarter. Sax Wealth Advisors LLC now owns 5,686 shares of the network equipment provider’s stock valued at $306,000 after purchasing an additional 196 shares during the period. Onyx Bridge Wealth Group LLC boosted its position in Cisco Systems by 3.8% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 5,385 shares of the network equipment provider’s stock valued at $290,000 after purchasing an additional 197 shares during the period. Winch Advisory Services LLC boosted its position in Cisco Systems by 19.3% during the 3rd quarter. Winch Advisory Services LLC now owns 1,232 shares of the network equipment provider’s stock valued at $66,000 after purchasing an additional 199 shares during the period. Finally, Benin Management CORP boosted its position in Cisco Systems by 0.5% during the 3rd quarter. Benin Management CORP now owns 37,543 shares of the network equipment provider’s stock valued at $2,018,000 after purchasing an additional 200 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the sale, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the sale, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at $16,424,550. The disclosure for this sale can be found here. Insiders sold a total of 19,441 shares of company stock worth $972,080 over the last quarter. Company insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CSCO. Deutsche Bank Aktiengesellschaft boosted their price objective on 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 reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Tuesday, April 9th. Morgan Stanley started coverage on Cisco Systems in a research report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price target for the company. Piper Sandler upped their price target on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Finally, Barclays upped their price target on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $55.53.

Cisco Systems Stock Down 0.1 %

Shares of NASDAQ CSCO traded down $0.03 during mid-day trading on Wednesday, hitting $48.29. The company had a trading volume of 9,535,139 shares, compared to its average volume of 19,348,018. The company has a market capitalization of $195.54 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 2.78 and a beta of 0.87. The firm has a 50-day simple moving average of $49.01 and a two-hundred day simple moving average of $50.13. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. The company had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. Cisco Systems’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 EPS. On average, equities analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Wednesday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is currently 48.63%.

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.