Courier Capital LLC Acquires 11,239 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Courier Capital LLC increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 148,611 shares of the network equipment provider’s stock after buying an additional 11,239 shares during the period. Courier Capital LLC’s holdings in Cisco Systems were worth $7,508,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kathleen S. Wright Associates Inc. bought a new position in Cisco Systems in the 3rd quarter valued at $27,000. Valued Wealth Advisors LLC bought a new position in Cisco Systems in the 4th quarter valued at $32,000. Fortis Capital Advisors LLC bought a new position in Cisco Systems in the 4th quarter valued at $34,000. Hibernia Wealth Partners LLC bought a new position in Cisco Systems in the 3rd quarter valued at $42,000. Finally, VitalStone Financial LLC bought a new position in Cisco Systems in the 2nd quarter valued at $45,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Price Performance

CSCO stock opened at $49.77 on Thursday. The firm’s 50-day moving average price is $49.78 and its two-hundred day moving average price is $50.94. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19. The stock has a market capitalization of $201.53 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 2.24 and a beta of 0.87. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The firm had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 earnings per share. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.16 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be paid a dividend of $0.40 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.21%. Cisco Systems’s payout ratio is presently 47.42%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Melius downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. UBS Group raised their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Barclays raised their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Wells Fargo & Company initiated coverage on shares of Cisco Systems in a research report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price objective on the stock. Finally, Piper Sandler raised their price objective on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Cisco Systems has a consensus rating of “Hold” and a consensus target price of $56.42.

Insider Activity

In other news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at $16,424,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,441 shares of company stock valued at $972,080. Corporate insiders own 0.02% of the company’s stock.

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.