Dakota Community Bank & Trust NA Boosts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Dakota Community Bank & Trust NA grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 9.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,897 shares of the network equipment provider’s stock after purchasing an additional 517 shares during the quarter. Cisco Systems makes up 1.7% of Dakota Community Bank & Trust NA’s investment portfolio, making the stock its 17th largest holding. Dakota Community Bank & Trust NA’s holdings in Cisco Systems were worth $349,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CSCO. Quarry LP lifted its stake in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC lifted its position in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares during the last quarter. Highline Wealth Partners LLC grew its stake in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in Cisco Systems in the 3rd quarter worth about $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in Cisco Systems in the 4th quarter valued at about $49,000. 73.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CSCO has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Piper Sandler lifted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. UBS Group increased their target price on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Finally, Morgan Stanley boosted their price objective on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Eight equities 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $61.50.

Cisco Systems Price Performance

CSCO stock opened at $60.23 on Friday. The firm has a 50 day simple moving average of $58.87 and a two-hundred day simple moving average of $53.43. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The stock has a market cap of $239.88 billion, a PE ratio of 25.85, a P/E/G ratio of 4.37 and a beta of 0.84. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.95.

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

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is presently 68.67%.

Insiders Place Their Bets

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 21,230 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 over the last three months. Insiders own 0.01% of the company’s stock.

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.