Elevated Capital Advisors LLC Takes Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Elevated Capital Advisors LLC acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the 3rd quarter, Holdings Channel reports. The fund acquired 7,263 shares of the network equipment provider’s stock, valued at approximately $387,000.

Several other institutional investors and hedge funds have also made changes to their positions in CSCO. Brookstone Capital Management boosted its holdings in shares of Cisco Systems by 9.4% in the first quarter. Brookstone Capital Management now owns 55,083 shares of the network equipment provider’s stock valued at $2,749,000 after acquiring an additional 4,712 shares in the last quarter. Sovereign Financial Group Inc. boosted its holdings in Cisco Systems by 16.5% during the first quarter. Sovereign Financial Group Inc. now owns 10,966 shares of the network equipment provider’s stock worth $547,000 after buying an additional 1,555 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in Cisco Systems by 28.9% during the first quarter. Wealthcare Advisory Partners LLC now owns 53,871 shares of the network equipment provider’s stock worth $2,689,000 after buying an additional 12,072 shares in the last quarter. Shulman DeMeo Asset Management LLC boosted its holdings in Cisco Systems by 6.0% during the first quarter. Shulman DeMeo Asset Management LLC now owns 10,116 shares of the network equipment provider’s stock worth $505,000 after buying an additional 570 shares in the last quarter. Finally, Thrive Wealth Management LLC boosted its holdings in Cisco Systems by 5.5% during the first quarter. Thrive Wealth Management LLC now owns 19,168 shares of the network equipment provider’s stock worth $957,000 after buying an additional 995 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the sale, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the transaction, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at $8,181,307.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. Jefferies Financial Group decreased their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the company from $52.00 to $62.00 in a report on Wednesday, October 16th. Finally, New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $56.74.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $56.28 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The firm has a market capitalization of $226.74 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 4.22 and a beta of 0.83. The company’s fifty day moving average is $51.85 and its two-hundred day moving average is $48.77. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $57.06.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the business earned $1.01 EPS. The firm’s revenue was down 10.3% on a year-over-year basis. Equities research analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.84%. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

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.