Ferguson Wellman Capital Management Inc. Boosts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Financial News Live · Mar 22, 2023 02:50

Ferguson Wellman Capital Management Inc. raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO ) by 30.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 971,310 shares of the network equipment provider's stock after purchasing an additional 225,593 shares during the period. Cisco Systems accounts for about 1.2% of Ferguson Wellman Capital Management Inc.'s holdings, making the stock its 27th biggest position. Ferguson Wellman Capital Management Inc.'s holdings in Cisco Systems were worth $46,273,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Syverson Strege & Co increased its stake in shares of Cisco Systems by 68.9% in the second quarter. Syverson Strege & Co now owns 591 shares of the network equipment provider's stock worth $25,000 after purchasing an additional 241 shares in the last quarter. My Personal CFO LLC bought a new position in shares of Cisco Systems in the fourth quarter valued at approximately $27,000. Beaird Harris Wealth Management LLC boosted its position in shares of Cisco Systems by 164.0% in the second quarter. Beaird Harris Wealth Management LLC now owns 813 shares of the network equipment provider's stock valued at $35,000 after acquiring an additional 505 shares during the period. EWG Elevate Inc. bought a new position in shares of Cisco Systems in the fourth quarter valued at approximately $36,000. Finally, JTC Employer Solutions Trustee Ltd boosted its position in shares of Cisco Systems by 297.7% in the third quarter. JTC Employer Solutions Trustee Ltd now owns 1,193 shares of the network equipment provider's stock valued at $48,000 after acquiring an additional 893 shares during the period. Hedge funds and other institutional investors own 71.10% of the company's stock.

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Cisco Systems Price Performance

Shares of CSCO stock traded up $0.04 during trading hours on Tuesday, hitting $50.98. 1,653,167 shares of the company's stock were exchanged, compared to its average volume of 18,220,088. The company has a market capitalization of $208.80 billion, a PE ratio of 18.66, a PEG ratio of 2.31 and a beta of 1.00. Cisco Systems, Inc. has a 12-month low of $38.60 and a 12-month high of $56.94. The business's 50 day simple moving average is $48.64 and its 200-day simple moving average is $46.38. The company has a current ratio of 1.41, a quick ratio of 1.30 and a debt-to-equity ratio of 0.18.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 15th. The network equipment provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.76 by $0.12. Cisco Systems had a net margin of 21.26% and a return on equity of 31.19%. The company had revenue of $13.59 billion for the quarter, compared to the consensus estimate of $13.41 billion. During the same period in the previous year, the firm earned $0.77 earnings per share. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.34 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 26th. Investors of record on Wednesday, April 5th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.06%. This is an increase from Cisco Systems's previous quarterly dividend of $0.38. The ex-dividend date is Tuesday, April 4th. Cisco Systems's payout ratio is presently 55.68%.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the company a "neutral" rating in a research report on Thursday, February 16th. Loop Capital raised their price objective on shares of Cisco Systems from $65.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, February 16th. Wells Fargo & Company raised their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company an "equal weight" rating in a research report on Thursday, February 16th. Piper Sandler raised their price objective on shares of Cisco Systems from $49.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday, February 16th. Finally, TheStreet upgraded shares of Cisco Systems from a "c+" rating to a "b-" rating in a research report on Monday, November 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and an average target price of $56.38.

Insider Buying and Selling

In related news, SVP Prat Bhatt sold 608 shares of Cisco Systems stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $48.74, for a total value of $29,633.92. Following the transaction, the senior vice president now directly owns 50,162 shares of the company's stock, valued at $2,444,895.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 23,701 shares of the business's stock in a transaction on Friday, February 17th. The shares were sold at an average price of $50.90, for a total transaction of $1,206,380.90. Following the transaction, the executive vice president now directly owns 184,853 shares of the company's stock, valued at approximately $9,409,017.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Prat Bhatt sold 608 shares of the business's stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $48.74, for a total transaction of $29,633.92. Following the transaction, the senior vice president now directly owns 50,162 shares in the company, valued at $2,444,895.88. The disclosure for this sale can be found here. Insiders have sold a total of 47,568 shares of company stock valued at $2,376,624 over the last three months. 0.02% of the stock is owned by company insiders.

Cisco Systems Profile

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.

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