Avanza Fonder AB Buys Shares of 407,704 Cisco Systems, Inc. (NASDAQ:CSCO)

Avanza Fonder AB bought a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 407,704 shares of the network equipment provider’s stock, valued at approximately $24,136,000. Cisco Systems comprises approximately 0.7% of Avanza Fonder AB’s portfolio, making the stock its 19th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. SeaCrest Wealth Management LLC raised its holdings in Cisco Systems by 0.6% in the fourth quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider’s stock valued at $1,879,000 after buying an additional 178 shares during the period. Aviso Wealth Management increased its position in shares of Cisco Systems by 2.4% in the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock worth $405,000 after acquiring an additional 181 shares in the last quarter. Waypoint Capital Advisors LLC increased its holdings in Cisco Systems by 2.9% in the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock valued at $346,000 after purchasing an additional 182 shares in the last quarter. Andina Capital Management LLC raised its holdings in shares of Cisco Systems by 3.6% during the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock valued at $279,000 after buying an additional 182 shares during the period. Finally, Wealth Dimensions Group Ltd. boosted its holdings in Cisco Systems by 1.6% in the 3rd quarter. Wealth Dimensions Group Ltd. now owns 11,372 shares of the network equipment provider’s stock worth $605,000 after acquiring an additional 182 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Richard Scott Herren sold 86,351 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 transaction of $4,964,318.99. Following the completion of the sale, the chief financial officer now owns 365,314 shares in the company, valued at $21,001,901.86. The trade was a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 in the last quarter. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CSCO. Tigress Financial lifted their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Barclays boosted their price target on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Piper Sandler lifted their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and increased their target price for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Finally, Citigroup lifted their price target on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $60.59 on Friday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $60.65. The firm has a market capitalization of $241.30 billion, a PE ratio of 26.00, a P/E/G ratio of 4.37 and a beta of 0.84. 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 business’s fifty day moving average price is $58.83 and its two-hundred day moving average price is $53.39.

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

Cisco Systems Announces Dividend

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 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio 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.