Wendell David Associates Inc. Has $3.18 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Wendell David Associates Inc. reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,718 shares of the network equipment provider’s stock after selling 200 shares during the quarter. Wendell David Associates Inc.’s holdings in Cisco Systems were worth $3,180,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Independent Wealth Network Inc. increased its holdings in shares of Cisco Systems by 3.2% in the fourth quarter. Independent Wealth Network Inc. now owns 9,144 shares of the network equipment provider’s stock valued at $541,000 after purchasing an additional 280 shares in the last quarter. GoalVest Advisory LLC boosted its position in Cisco Systems by 47.5% in the 4th quarter. GoalVest Advisory LLC now owns 44,560 shares of the network equipment provider’s stock valued at $2,638,000 after buying an additional 14,355 shares during the last quarter. Albion Financial Group UT increased its stake in shares of Cisco Systems by 0.3% in the 4th quarter. Albion Financial Group UT now owns 158,815 shares of the network equipment provider’s stock valued at $9,402,000 after buying an additional 432 shares during the period. West Branch Capital LLC raised its position in shares of Cisco Systems by 10.7% during the fourth quarter. West Branch Capital LLC now owns 44,544 shares of the network equipment provider’s stock worth $2,637,000 after acquiring an additional 4,304 shares during the last quarter. Finally, MBM Wealth Consultants LLC lifted its stake in shares of Cisco Systems by 6.6% during the fourth quarter. MBM Wealth Consultants LLC now owns 5,317 shares of the network equipment provider’s stock valued at $314,000 after acquiring an additional 331 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Tigress Financial boosted their price objective on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Piper Sandler increased their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Wells Fargo & Company lifted their target price 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. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Finally, UBS Group lifted their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $61.50.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $61.63 on Thursday. The stock’s 50-day simple moving average is $58.99 and its 200 day simple moving average is $53.81. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $61.76. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The company has a market cap of $245.46 billion, a P/E ratio of 26.45, a P/E/G ratio of 4.54 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm’s revenue was down 5.6% on a year-over-year basis. During the same period last year, the business earned $0.98 earnings per share. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.60%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total value of $291,542.13. Following the transaction, the senior vice president now directly owns 51,931 shares in the company, valued at approximately $3,101,838.63. This represents a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the transaction, the executive vice president now directly owns 213,834 shares in the company, valued at $12,203,506.38. This represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 353,522 shares of company stock worth $20,349,721. Company insiders own 0.01% of the company’s stock.

Cisco Systems Company 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.