Transcend Wealth Collective LLC Invests $2.55 Million in Cisco Systems, Inc. (NASDAQ:CSCO)

Transcend Wealth Collective LLC purchased a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 53,243 shares of the network equipment provider’s stock, valued at approximately $2,554,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CSCO. Franklin Resources Inc. lifted its position in Cisco Systems by 40.8% in the 4th quarter. Franklin Resources Inc. now owns 17,869,145 shares of the network equipment provider’s stock valued at $857,003,000 after acquiring an additional 5,176,828 shares in the last quarter. FMR LLC lifted its position in Cisco Systems by 13.1% in the 4th quarter. FMR LLC now owns 36,607,406 shares of the network equipment provider’s stock valued at $1,755,691,000 after acquiring an additional 4,244,954 shares in the last quarter. Parnassus Investments CA lifted its position in Cisco Systems by 45.0% in the 4th quarter. Parnassus Investments CA now owns 13,052,288 shares of the network equipment provider’s stock valued at $625,988,000 after acquiring an additional 4,048,406 shares in the last quarter. M&G Investment Management Ltd. bought a new stake in Cisco Systems in the 4th quarter valued at $185,636,000. Finally, FIL Ltd lifted its position in Cisco Systems by 22.3% in the 4th quarter. FIL Ltd now owns 11,846,128 shares of the network equipment provider’s stock valued at $568,141,000 after acquiring an additional 2,161,704 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

In related news, EVP Maria Martinez sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $46.53, for a total value of $232,650.00. Following the transaction, the executive vice president now owns 199,321 shares in the company, valued at approximately $9,274,406.13. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 3,910 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $46.53, for a total transaction of $181,932.30. The disclosure for this sale can be found here. Insiders have sold a total of 78,910 shares of company stock worth $3,296,482 over the last 90 days. 0.03% of the stock is owned by company insiders.

Several equities research analysts recently commented on the stock. Goldman Sachs Group reaffirmed a “hold” rating and issued a $48.00 price objective on shares of Cisco Systems in a research report on Thursday, February 13th. Edward Jones raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. Argus reaffirmed a “buy” rating on shares of Cisco Systems in a research report on Thursday. TheStreet cut shares of Cisco Systems from a “b” rating to a “c+” rating in a research report on Thursday, March 12th. Finally, Barclays raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective on the stock in a research report on Thursday, December 19th. Twelve research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $52.64.

Shares of Cisco Systems stock traded up $2.91 during trading on Thursday, hitting $40.58. 38,464,188 shares of the stock were exchanged, compared to its average volume of 49,812,412. The stock has a market capitalization of $163.70 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 2.44 and a beta of 1.23. The company has a fifty day moving average price of $41.92 and a 200-day moving average price of $45.89. Cisco Systems, Inc. has a 1-year low of $32.40 and a 1-year high of $58.26. The company has a current ratio of 1.81, a quick ratio of 1.75 and a debt-to-equity ratio of 0.41.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.01. The company had revenue of $12 billion for the quarter, compared to analyst estimates of $11.98 billion. Cisco Systems had a net margin of 21.44% and a return on equity of 36.40%. Cisco Systems’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 EPS. Equities research analysts forecast that Cisco Systems, Inc. will post 2.93 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a dividend yield of 3.55%. Cisco Systems’s payout ratio is currently 49.12%.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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