Precedent Wealth Partners LLC Boosts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Precedent Wealth Partners LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 31,490 shares of the network equipment provider’s stock after purchasing an additional 932 shares during the period. Precedent Wealth Partners LLC’s holdings in Cisco Systems were worth $1,864,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Lighthouse Investment Partners LLC purchased a new position in shares of Cisco Systems in the second quarter valued at about $5,729,000. Oliver Lagore Vanvalin Investment Group increased its holdings in Cisco Systems by 10.7% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 4,456 shares of the network equipment provider’s stock valued at $212,000 after purchasing an additional 430 shares during the period. SkyView Investment Advisors LLC raised its position in Cisco Systems by 13.8% during the 2nd quarter. SkyView Investment Advisors LLC now owns 9,748 shares of the network equipment provider’s stock valued at $463,000 after purchasing an additional 1,179 shares during the last quarter. Bontempo Ohly Capital Mgmt LLC lifted its holdings in Cisco Systems by 2.0% in the 2nd quarter. Bontempo Ohly Capital Mgmt LLC now owns 78,353 shares of the network equipment provider’s stock worth $3,723,000 after buying an additional 1,566 shares during the period. Finally, Aviso Wealth Management grew its position in shares of Cisco Systems by 18.5% in the 2nd quarter. Aviso Wealth Management now owns 7,434 shares of the network equipment provider’s stock worth $353,000 after buying an additional 1,162 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction 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 sale, the chief executive officer now owns 783,786 shares in the company, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the transaction, the senior vice president now owns 50,767 shares in the company, valued at $2,979,515.23. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Bank of America raised their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Barclays raised their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Morgan Stanley upped their price target on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Citigroup raised their price objective on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Eight investment 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, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $62.23 on Friday. 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 company has a market cap of $247.85 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 4.59 and a beta of 0.84. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $62.31. The firm has a fifty day moving average price of $59.22 and a 200-day moving average price of $54.03.

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, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. The business’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, equities analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.57%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

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.