Berry Wealth Group LP Acquires New Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Berry Wealth Group LP acquired a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 63,434 shares of the network equipment provider’s stock, valued at approximately $3,205,000. Cisco Systems makes up 2.9% of Berry Wealth Group LP’s investment portfolio, making the stock its 16th biggest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kathleen S. Wright Associates Inc. bought a new position in Cisco Systems during the 3rd quarter valued at about $27,000. Valued Wealth Advisors LLC bought a new position in Cisco Systems during the fourth quarter valued at approximately $32,000. Morton Brown Family Wealth LLC boosted its holdings in Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the last quarter. Bourgeon Capital Management LLC grew its position in Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares during the period. Finally, Rakuten Securities Inc. purchased a new stake in Cisco Systems during the 4th quarter valued at $43,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

CSCO traded up $0.20 during trading on Wednesday, reaching $47.18. 5,306,254 shares of the company traded hands, compared to its average volume of 19,079,242. The company has a market cap of $191.04 billion, a P/E ratio of 14.28, a PEG ratio of 2.76 and a beta of 0.87. The firm has a fifty day simple moving average of $48.90 and a 200 day simple moving average of $49.92. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.84 by $0.03. The business had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 EPS. On average, equities analysts forecast 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 was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.39%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date was Wednesday, April 3rd. Cisco Systems’s dividend payout ratio is 48.63%.

Insider Activity

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the transaction, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were 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 owns 58,121 shares in the company, valued at approximately $2,906,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the sale, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on CSCO. Deutsche Bank Aktiengesellschaft lifted their price objective on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. Wells Fargo & Company initiated coverage on shares of Cisco Systems in a research report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price target for the company. Barclays raised their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Citigroup assumed coverage on shares of Cisco Systems in a research report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target on the stock. Finally, Morgan Stanley began coverage on shares of Cisco Systems in a research report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price objective for the company. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and a consensus target price of $55.53.

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.