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

Ridgecrest Wealth Partners LLC lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,887 shares of the network equipment provider’s stock after buying an additional 496 shares during the period. Cisco Systems makes up approximately 0.9% of Ridgecrest Wealth Partners LLC’s holdings, making the stock its 25th largest holding. Ridgecrest Wealth Partners LLC’s holdings in Cisco Systems were worth $1,592,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp increased its position in shares of Cisco Systems by 1.7% in the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after acquiring an additional 3,241,682 shares during the period. Geode Capital Management LLC increased its holdings in Cisco Systems by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock valued at $5,075,320,000 after purchasing an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. raised its position in Cisco Systems by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock valued at $4,402,239,000 after purchasing an additional 1,677,383 shares during the last quarter. FMR LLC lifted its holdings in Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after buying an additional 5,885,879 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of Cisco Systems by 1.2% in the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock worth $1,107,930,000 after buying an additional 216,632 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Activity

In related news, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the transaction, the chief financial officer now owns 365,314 shares in the company, valued at $21,001,901.86. This represents a 19.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the sale, the executive vice president now owns 213,834 shares in the company, valued at $12,203,506.38. This 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 valued at $20,349,721 over the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $62.23 on Monday. The stock 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. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $62.31. The firm’s 50-day moving average is $59.22 and its 200 day moving average is $54.14.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. Sell-side analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently commented on CSCO. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Morgan Stanley raised their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Bank of America raised their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Citigroup upped their target price on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus target price of $61.50.

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.