Davis Investment Partners LLC Takes $278,000 Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Davis Investment Partners LLC purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,734 shares of the network equipment provider’s stock, valued at approximately $278,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. West Financial Advisors LLC grew its position in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares during the period. Highline Wealth Partners LLC grew its stake in Cisco Systems by 76.7% in 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 during the period. Quarry LP raised its position in 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 acquiring an additional 456 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in Cisco Systems during the third quarter valued at $40,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Cisco Systems during the 3rd quarter worth about $51,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insiders Place Their Bets

In other Cisco Systems news, Director Kristina M. Johnson sold 7,500 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $59.87, for a total transaction of $449,025.00. Following the sale, the director now directly owns 65,915 shares in the company, valued at approximately $3,946,331.05. The trade was a 10.22 % 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, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Up 0.0 %

NASDAQ:CSCO traded up $0.02 during midday trading on Monday, hitting $58.76. 19,328,440 shares of the company were exchanged, compared to its average volume of 15,977,398. 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 fifty-two week low of $44.50 and a fifty-two week high of $60.23. The company has a market capitalization of $234.03 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The company has a fifty day simple moving average of $58.67 and a 200 day simple moving average of $53.18.

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

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.72%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CSCO. Bank of America increased their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Piper Sandler increased their price target on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $61.28.

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.