Financial Management Professionals Inc. Buys 830 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Financial Management Professionals Inc. raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,682 shares of the network equipment provider’s stock after acquiring an additional 830 shares during the period. Financial Management Professionals Inc.’s holdings in Cisco Systems were worth $632,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CSCO. Seven Eight Capital LP purchased a new position in shares of Cisco Systems in the second quarter valued at $242,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Cisco Systems by 20.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 174,973 shares of the network equipment provider’s stock valued at $8,313,000 after purchasing an additional 29,163 shares during the last quarter. Benjamin Edwards Inc. increased its position in shares of Cisco Systems by 2.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 8,441 shares of the network equipment provider’s stock valued at $401,000 after purchasing an additional 226 shares during the last quarter. Sei Investments Co. raised its holdings in Cisco Systems by 13.7% during the 2nd quarter. Sei Investments Co. now owns 2,041,220 shares of the network equipment provider’s stock valued at $96,984,000 after buying an additional 245,780 shares during the period. Finally, Boston Research & Management Inc. lifted its position in Cisco Systems by 0.9% in the second quarter. Boston Research & Management Inc. now owns 146,582 shares of the network equipment provider’s stock worth $6,964,000 after buying an additional 1,243 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their target price for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Piper Sandler increased their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Citigroup boosted their target price on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Friday. Bank of America increased their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, UBS Group upped their price objective on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.50.

Cisco Systems Stock Performance

CSCO stock opened at $60.23 on Friday. The firm has a 50-day simple moving average of $58.91 and a two-hundred day simple moving average of $53.52. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.95. The firm has a market cap of $239.88 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 4.37 and a beta of 0.84.

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

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.66%. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the sale, the senior vice president now owns 50,767 shares in the company, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kristina M. Johnson sold 7,500 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the completion of the transaction, the director now directly owns 65,915 shares in the company, valued at $3,946,331.05. This represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock worth $20,349,721 in the last three months. Corporate 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.