Mitchell & Pahl Private Wealth LLC Buys 1,487 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Mitchell & Pahl Private Wealth LLC boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,216 shares of the network equipment provider’s stock after acquiring an additional 1,487 shares during the period. Cisco Systems accounts for about 1.2% of Mitchell & Pahl Private Wealth LLC’s holdings, making the stock its 27th biggest position. Mitchell & Pahl Private Wealth LLC’s holdings in Cisco Systems were worth $2,499,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after buying an additional 5,885,879 shares during the period. Two Sigma Advisers LP lifted its position in shares of Cisco Systems by 327.5% during the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock worth $362,907,000 after acquiring an additional 5,223,800 shares in the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of Cisco Systems by 5,231.5% in the third quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock worth $262,646,000 after acquiring an additional 4,842,542 shares during the period. National Bank of Canada FI boosted its holdings in shares of Cisco Systems by 79.6% in the third quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after acquiring an additional 3,975,028 shares during the period. Finally, State Street Corp grew its position in shares of Cisco Systems by 1.7% in the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after purchasing an additional 3,241,682 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 3,042 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the transaction, the executive vice president now owns 207,798 shares in the company, valued at approximately $12,299,563.62. This represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were 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. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock valued at $20,349,721 over the last three months. Corporate insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CSCO. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Piper Sandler raised their price target 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. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Citigroup lifted their price objective on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday. Finally, Barclays upped their target price on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

Cisco Systems Trading Up 0.7 %

NASDAQ CSCO opened at $60.23 on Tuesday. The stock has a market cap of $239.88 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $60.95. The stock has a 50 day simple moving average of $58.91 and a two-hundred day simple moving average of $53.61. 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 (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 earnings per share. On average, analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

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

About Cisco Systems

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.