Skyline Advisors Inc. Makes New $241,000 Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Skyline Advisors Inc. bought a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 4,772 shares of the network equipment provider’s stock, valued at approximately $241,000.

A number of other institutional investors have also recently made changes to their positions in CSCO. Sargent Investment Group LLC raised its stake in shares of Cisco Systems by 5.6% in the third quarter. Sargent Investment Group LLC now owns 13,425 shares of the network equipment provider’s stock valued at $722,000 after acquiring an additional 713 shares during the period. Intact Investment Management Inc. lifted its stake in Cisco Systems by 0.7% in the third quarter. Intact Investment Management Inc. now owns 273,150 shares of the network equipment provider’s stock worth $14,685,000 after purchasing an additional 1,850 shares during the last quarter. Bowen Hanes & Co. Inc. grew its stake in shares of Cisco Systems by 2.5% during the third quarter. Bowen Hanes & Co. Inc. now owns 97,541 shares of the network equipment provider’s stock valued at $5,244,000 after buying an additional 2,350 shares during the last quarter. Robertson Stephens Wealth Management LLC boosted its holdings in Cisco Systems by 37.2% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 42,571 shares of the network equipment provider’s stock valued at $2,289,000 after acquiring an additional 11,541 shares during the period. Finally, Pearl River Capital LLC bought a new position in Cisco Systems in the 3rd quarter valued at $506,000. Institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the subject of a number of recent analyst reports. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price for the company in a research note on Monday, May 13th. Oppenheimer upped their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. Barclays boosted their price target on Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, May 17th. Piper Sandler restated a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a report on Wednesday, June 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and an average target price of $56.47.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the transaction, the senior vice president now owns 51,788 shares in the company, valued at approximately $2,352,210.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the transaction, the senior vice president now directly owns 51,788 shares in the company, valued at $2,352,210.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The disclosure for this sale can be found here. Insiders sold 41,106 shares of company stock worth $1,908,923 in the last three months. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO opened at $45.69 on Tuesday. The company has a 50 day moving average of $47.36 and a two-hundred day moving average of $48.89. The company has a market cap of $184.08 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 2.65 and a beta of 0.86. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a twelve month low of $44.95 and a twelve month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same quarter last year, the firm earned $0.88 EPS. The business’s quarterly revenue was down 12.8% on a year-over-year basis. As a group, analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s payout ratio is currently 53.87%.

About Cisco Systems

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.