Horizon Wealth Management LLC Purchases New Shares in Cisco Systems, Inc. (NASDAQ:CSCO)

Horizon Wealth Management LLC acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,504 shares of the network equipment provider’s stock, valued at approximately $207,000.

Other institutional investors also recently modified their holdings of the company. Quest Partners LLC bought a new stake in shares of Cisco Systems during the second quarter worth $62,000. Diversify Wealth Management LLC bought a new stake in Cisco Systems during the 2nd quarter worth about $2,375,000. Wilkins Investment Counsel Inc. lifted its position in Cisco Systems by 2.8% during the 2nd quarter. Wilkins Investment Counsel Inc. now owns 77,781 shares of the network equipment provider’s stock valued at $3,695,000 after purchasing an additional 2,135 shares during the period. Rock Point Advisors LLC grew its position in shares of Cisco Systems by 66.1% during the 2nd quarter. Rock Point Advisors LLC now owns 192,910 shares of the network equipment provider’s stock worth $9,165,000 after buying an additional 76,784 shares during the period. Finally, Providence Wealth Advisors LLC raised its stake in shares of Cisco Systems by 1.4% during the second quarter. Providence Wealth Advisors LLC now owns 23,718 shares of the network equipment provider’s stock worth $1,128,000 after buying an additional 330 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, Director Kristina M. Johnson sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the completion of the sale, the director now directly owns 65,915 shares of the company’s stock, valued at $3,946,331.05. This trade represents a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Charles Robbins sold 171,744 shares of the business’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 value of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock worth $20,349,721 over the last quarter. 0.01% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on CSCO shares. Citigroup lifted their target price on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Barclays upped their price objective on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Bank of America upped their price target on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $73.00 in a report on Monday, January 6th. 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.28.

Cisco Systems Stock Up 0.0 %

CSCO stock traded up $0.02 during midday trading on Monday, hitting $58.76. The company’s stock had a trading volume of 19,328,746 shares, compared to its average volume of 17,344,830. The company’s fifty day moving average price is $58.67 and its 200 day moving average price is $53.18. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $60.23. 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 capitalization of $234.03 billion, a P/E ratio of 25.22, a PEG ratio of 4.37 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate 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 business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 earnings per share. As a group, equities research analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

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.