BankPlus Wealth Management LLC Makes New $446,000 Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

BankPlus Wealth Management LLC bought a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,541 shares of the network equipment provider’s stock, valued at approximately $446,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP grew its holdings in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares in the last quarter. West Financial Advisors LLC boosted its position in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares during the last quarter. Highline Wealth Partners LLC grew its stake in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Cisco Systems in the 3rd quarter valued at about $40,000. Finally, Decker Retirement Planning Inc. purchased a new position in Cisco Systems in the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Cisco Systems stock opened at $59.09 on Tuesday. The stock has a market cap of $235.35 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 4.59 and a beta of 0.84. The company has a fifty day simple moving average of $59.22 and a 200-day simple moving average of $54.14. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $62.31.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping 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 return on equity of 25.70% and a net margin of 17.73%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. Equities analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors 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 yield of 2.71%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Analyst Ratings Changes

CSCO has been the topic of a number of analyst reports. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Piper Sandler boosted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Citigroup raised their price objective on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $66.00 to $73.00 in a report on Monday, January 6th. Finally, Wells Fargo & Company raised their price target 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. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.50.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 4,881 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the completion of the sale, the senior vice president now owns 51,931 shares in the company, valued at $3,101,838.63. This represents a 8.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. 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 ninety days. Insiders own 0.01% of the company’s stock.

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.