Daymark Wealth Partners LLC Grows Position in Cisco Systems, Inc. (NASDAQ:CSCO)
Daymark Wealth Partners LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 67.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 419,410 shares of the network equipment provider’s stock after buying an additional 169,325 shares during the quarter. Cisco Systems comprises about 1.2% of Daymark Wealth Partners LLC’s portfolio, making the stock its 23rd biggest holding. Daymark Wealth Partners LLC’s holdings in Cisco Systems were worth $22,547,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Per Stirling Capital Management LLC. raised its holdings in Cisco Systems by 3.4% in the second quarter. Per Stirling Capital Management LLC. now owns 5,794 shares of the network equipment provider’s stock valued at $300,000 after acquiring an additional 188 shares in the last quarter. Wealth Dimensions Group Ltd. raised its holdings in Cisco Systems by 1.4% during the second quarter. Wealth Dimensions Group Ltd. now owns 13,401 shares of the network equipment provider’s stock worth $693,000 after purchasing an additional 188 shares in the last quarter. Delta Financial Advisors LLC raised its holdings in Cisco Systems by 2.3% during the second quarter. Delta Financial Advisors LLC now owns 8,668 shares of the network equipment provider’s stock worth $448,000 after purchasing an additional 192 shares in the last quarter. Pflug Koory LLC raised its holdings in Cisco Systems by 0.5% during the second quarter. Pflug Koory LLC now owns 41,514 shares of the network equipment provider’s stock worth $2,148,000 after purchasing an additional 195 shares in the last quarter. Finally, Intercontinental Wealth Advisors LLC raised its holdings in Cisco Systems by 1.5% during the second quarter. Intercontinental Wealth Advisors LLC now owns 13,608 shares of the network equipment provider’s stock worth $704,000 after purchasing an additional 197 shares in the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.
Cisco Systems Trading Up 0.9 %
Shares of CSCO stock opened at $49.87 on Friday. The firm has a 50-day moving average price of $50.94 and a 200 day moving average price of $52.36. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. The company has a market capitalization of $202.65 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 2.36 and a beta of 0.91. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.15.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last announced its earnings results on Wednesday, November 15th. The network equipment provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.20. Cisco Systems had a net margin of 23.40% and a return on equity of 34.41%. The firm had revenue of $14.67 billion during the quarter, compared to the consensus estimate of $14.63 billion. During the same quarter in the previous year, the company posted $0.77 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. Research analysts forecast that Cisco Systems, Inc. will post 3.4 earnings per share for the current fiscal year.
Cisco Systems Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Thursday, January 4th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Wednesday, January 3rd. Cisco Systems’s payout ratio is 47.13%.
Insider Activity at Cisco Systems
In other news, Director Mark Garrett sold 899 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $47.88, for a total transaction of $43,044.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Mark Garrett sold 899 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $47.88, for a total transaction of $43,044.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 24,579 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $47.99, for a total transaction of $1,179,546.21. Following the transaction, the executive vice president now directly owns 210,395 shares of the company’s stock, valued at approximately $10,096,856.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,538 shares of company stock valued at $1,465,217. 0.02% of the stock is owned by insiders.
Analyst Ratings Changes
A number of analysts have weighed in on the stock. Rosenblatt Securities cut their price objective on shares of Cisco Systems from $59.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, November 16th. Bank of America lifted their target price on shares of Cisco Systems from $56.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, September 13th. Piper Sandler cut their target price on shares of Cisco Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, November 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the company a “hold” rating in a report on Monday, August 21st. Finally, StockNews.com initiated coverage on shares of Cisco Systems in a report on Thursday, October 5th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $58.38.
Get Our Latest Stock Report on Cisco Systems
Cisco Systems Company Profile (Free Report)
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.
Read More
Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO – Free Report).
NASDAQ: CSCO” width=”650″ height=”350″ loading=”lazy”>
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Cisco Systems, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Cisco Systems wasn’t on the list.
While Cisco Systems currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s list of the 10 best stocks to own in 2024 and why they should be in your portfolio.