Acorn Wealth Advisors LLC Purchases 287 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Acorn Wealth Advisors LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,179 shares of the network equipment provider’s stock after buying an additional 287 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in Cisco Systems were worth $488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Aviso Wealth Management grew its stake in shares of Cisco Systems by 2.4% during the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock worth $405,000 after purchasing an additional 181 shares in the last quarter. Waypoint Capital Advisors LLC raised its stake in Cisco Systems by 2.9% during the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after acquiring an additional 182 shares in the last quarter. Andina Capital Management LLC lifted its position in Cisco Systems by 3.6% in the third quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock valued at $279,000 after acquiring an additional 182 shares during the last quarter. Wealth Dimensions Group Ltd. grew its holdings in shares of Cisco Systems by 1.6% during the third quarter. Wealth Dimensions Group Ltd. now owns 11,372 shares of the network equipment provider’s stock worth $605,000 after purchasing an additional 182 shares during the last quarter. Finally, Meridian Financial Partners LLC lifted its holdings in shares of Cisco Systems by 3.8% in the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock valued at $267,000 after purchasing an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In related news, 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 value of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 1.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now 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 sold 342,858 shares of company stock worth $19,661,157 in the last 90 days. 0.01% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CSCO. Evercore ISI lifted their price objective on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Citigroup boosted their target price on shares of Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Piper Sandler boosted their price target on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, Morgan Stanley lifted their price objective on Cisco Systems from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.94.

Cisco Systems Stock Up 0.4 %

NASDAQ CSCO traded up $0.21 on Monday, hitting $58.76. 1,286,966 shares of the stock traded hands, compared to its average volume of 19,031,477. The company has a market capitalization of $234.03 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 4.37 and a beta of 0.83. The stock has a 50-day moving average of $55.02 and a 200 day moving average of $50.17. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $59.38.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping 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 company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. The firm’s revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. As a group, analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 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.