Oliver Luxxe Assets LLC Purchases Shares of 3,685 Cisco Systems, Inc. (NASDAQ:CSCO)

Oliver Luxxe Assets LLC acquired a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,685 shares of the network equipment provider’s stock, valued at approximately $218,000.

Other large investors have also recently made changes to their positions in the company. FMR LLC grew its holdings in Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after buying an additional 5,885,879 shares in the last quarter. Two Sigma Advisers LP grew its holdings in shares of Cisco Systems by 327.5% in the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after purchasing an additional 5,223,800 shares in the last quarter. Pathway Financial Advisers LLC increased its position in 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 purchasing an additional 4,842,542 shares during the last quarter. National Bank of Canada FI raised its stake in Cisco Systems by 79.6% during the third quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock valued at $477,463,000 after purchasing an additional 3,975,028 shares in the last quarter. Finally, State Street Corp lifted its position in Cisco Systems by 1.7% during 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 during the last quarter. 73.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

CSCO has been the topic of a number of research reports. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $73.00 in a report on Monday, January 6th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Citigroup lifted their target price on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, January 17th. 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, Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

Cisco Systems Price Performance

Shares of CSCO stock opened at $62.23 on Friday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $62.32. 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 fifty day simple moving average of $59.04 and a two-hundred day simple moving average of $53.86. The stock has a market capitalization of $247.85 billion, a price-to-earnings ratio of 26.71, a P/E/G ratio of 4.59 and a beta of 0.84.

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

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.57%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insider Buying and Selling at Cisco Systems

In related news, CEO Charles Robbins sold 171,744 shares of the firm’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 sale, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 58,188 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 $3,345,228.12. Following the completion of the transaction, the executive vice president now owns 219,100 shares of the company’s stock, valued at $12,596,059. This represents a 20.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by corporate insiders.

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.