Atlantic Edge Private Wealth Management LLC Acquires 1,447 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Atlantic Edge Private Wealth Management LLC grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,071 shares of the network equipment provider’s stock after acquiring an additional 1,447 shares during the quarter. Cisco Systems accounts for 0.9% of Atlantic Edge Private Wealth Management LLC’s portfolio, making the stock its 28th largest holding. Atlantic Edge Private Wealth Management LLC’s holdings in Cisco Systems were worth $2,787,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Sovran Advisors LLC bought a new position in shares of Cisco Systems during the fourth quarter valued at $541,000. Strengthening Families & Communities LLC lifted its holdings in shares of Cisco Systems by 2.1% during the fourth quarter. Strengthening Families & Communities LLC now owns 35,913 shares of the network equipment provider’s stock valued at $2,126,000 after acquiring an additional 728 shares during the period. Stonebridge Financial Group LLC bought a new position in shares of Cisco Systems during the fourth quarter valued at $4,168,000. Core Alternative Capital lifted its holdings in shares of Cisco Systems by 1.4% during the fourth quarter. Core Alternative Capital now owns 74,915 shares of the network equipment provider’s stock valued at $4,435,000 after acquiring an additional 1,064 shares during the period. Finally, Essex Financial Services Inc. increased its position in Cisco Systems by 3.1% in the fourth quarter. Essex Financial Services Inc. now owns 75,941 shares of the network equipment provider’s stock worth $4,496,000 after purchasing an additional 2,267 shares during the period. 73.33% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Richard Scott Herren sold 86,351 shares of Cisco Systems stock in a transaction 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 sale, the chief financial officer now directly owns 365,314 shares in the company, valued at $21,001,901.86. The trade was a 19.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction dated 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 directly owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock worth $20,349,721 in the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CSCO shares. Morgan Stanley lifted their price objective on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Citigroup lifted their price objective on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Barclays boosted their target price on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, Tigress Financial boosted their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.72.

Cisco Systems Stock Performance

Cisco Systems stock opened at $62.81 on Tuesday. The business has a 50 day moving average of $59.71 and a 200-day moving average of $55.10. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $63.25. 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 capitalization of $250.16 billion, a P/E ratio of 26.96, a P/E/G ratio of 4.63 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 earnings per share. On average, equities research 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 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was 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.