Wealth Enhancement Advisory Services LLC Has $154.17 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Wealth Enhancement Advisory Services LLC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% during the 4th quarter, Holdings Channel reports. The firm owned 2,604,217 shares of the network equipment provider’s stock after buying an additional 8,158 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Cisco Systems were worth $154,170,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised 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 worth $10,297,506,000 after acquiring an additional 3,241,682 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cisco Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after acquiring an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Cisco Systems by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock valued at $4,402,239,000 after purchasing an additional 1,677,383 shares during the last quarter. FMR LLC increased its stake in shares of Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after purchasing an additional 5,885,879 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Cisco Systems by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after purchasing an additional 1,530,468 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of research reports. Citigroup upped their price objective on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Piper Sandler raised their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Evercore ISI lifted their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, UBS Group raised their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and an average target price of $61.28.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the sale, the senior vice president now owns 51,931 shares of the company’s stock, valued at approximately $3,101,838.63. This represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the transaction, the executive vice president now directly owns 207,798 shares in the company, valued at $12,299,563.62. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock valued at $20,349,721 over the last ninety days. 0.01% of the stock is owned by company insiders.

Cisco Systems Price Performance

CSCO traded down $0.54 on Friday, reaching $58.66. The stock had a trading volume of 3,591,834 shares, compared to its average volume of 14,676,489. The firm has a 50-day moving average of $58.60 and a 200-day moving average of $53.02. 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 $233.63 billion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. 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 (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm’s revenue was down 5.6% compared to the same quarter last year. During the same period last year, the company earned $0.98 EPS. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.73%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

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.