Monterey Private Wealth Inc. Buys 967 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Monterey Private Wealth Inc. lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,471 shares of the network equipment provider’s stock after acquiring an additional 967 shares during the period. Monterey Private Wealth Inc.’s holdings in Cisco Systems were worth $501,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CSCO. Quarry LP grew its stake in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares in the last quarter. West Financial Advisors LLC boosted its holdings 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 purchasing an additional 309 shares during the last quarter. Highline Wealth Partners LLC grew its position in Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing 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 $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in Cisco Systems during the 4th quarter worth about $49,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Up 0.7 %

Shares of CSCO opened at $60.23 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $239.88 billion, a PE ratio of 25.85, a P/E/G ratio of 4.48 and a beta of 0.84. The firm’s 50 day moving average is $58.94 and its 200-day moving average is $53.70. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $60.95.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same period in the previous year, the firm earned $0.98 EPS. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. Equities research analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current 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 paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.66%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction 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. The trade was a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the sale, the executive vice president now owns 213,834 shares in the company, valued at approximately $12,203,506.38. The trade was a 9.03 % 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 worth $20,349,721 over the last three months. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CSCO shares. Tigress Financial lifted their target price on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Bank of America upped their price objective on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Wells Fargo & Company increased their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.50.

Cisco Systems 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.