Cassaday & Co Wealth Management LLC Has $1.53 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Cassaday & Co Wealth Management LLC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% in the 4th quarter, HoldingsChannel reports. The fund owned 25,891 shares of the network equipment provider’s stock after purchasing an additional 192 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Cisco Systems were worth $1,533,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Pflug Koory LLC grew its position in Cisco Systems by 0.5% during the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock worth $1,955,000 after buying an additional 165 shares in the last quarter. Pathway Financial Advisors LLC lifted its stake in shares of Cisco Systems by 3.1% in the 4th quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock valued at $343,000 after acquiring an additional 172 shares during the last quarter. Beaumont Financial Advisors LLC raised its position in Cisco Systems by 1.7% during the 4th quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider’s stock worth $627,000 after purchasing an additional 173 shares during the last quarter. SeaCrest Wealth Management LLC raised its position in Cisco Systems by 0.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider’s stock worth $1,879,000 after purchasing an additional 178 shares during the last quarter. Finally, Aviso Wealth Management raised its position in Cisco Systems by 2.4% during the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock worth $405,000 after purchasing an additional 181 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the transaction, the chief executive officer now directly owns 736,120 shares in the company, valued at $47,413,489.20. The trade was a 4.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total transaction of $291,542.13. Following the completion of the transaction, the senior vice president now owns 51,931 shares of the company’s stock, valued at $3,101,838.63. This trade represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,921 shares of company stock valued at $4,298,667 in the last 90 days. 0.01% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Bank of America lifted their price objective on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. The Goldman Sachs Group raised their target price on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Wells Fargo & Company lifted their price target on Cisco Systems from $60.00 to $72.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Finally, Piper Sandler lifted their price target on Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.53.

Cisco Systems Trading Down 0.3 %

NASDAQ:CSCO opened at $64.67 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $257.28 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 4.17 and a beta of 0.84. The firm’s 50 day moving average is $60.55 and its 200 day moving average is $56.01. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Sell-side analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.54%. Cisco Systems’s payout ratio is presently 69.87%.

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.