Exchange Traded Concepts LLC Has $17.46 Million Holdings in Cisco Systems, Inc. $CSCO

Exchange Traded Concepts LLC decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 226,684 shares of the network equipment provider’s stock after selling 27,907 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Cisco Systems were worth $17,461,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Bare Financial Services Inc lifted its position in Cisco Systems by 531.0% during the 2nd quarter. Bare Financial Services Inc now owns 366 shares of the network equipment provider’s stock worth $25,000 after buying an additional 308 shares in the last quarter. Marquette Asset Management LLC bought a new position in shares of Cisco Systems in the 3rd quarter valued at about $25,000. Lowe Wealth Advisors LLC increased its position in shares of Cisco Systems by 96.2% in the third quarter. Lowe Wealth Advisors LLC now owns 408 shares of the network equipment provider’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Cisco Systems in the fourth quarter valued at about $31,000. Finally, Cedar Mountain Advisors LLC raised its holdings in Cisco Systems by 115.7% during the third quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider’s stock worth $32,000 after acquiring an additional 251 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Cisco Systems from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. UBS Group upped their price objective on Cisco Systems from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Citigroup increased their price objective on Cisco Systems from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, February 12th. CICC Research raised their target price on shares of Cisco Systems from $84.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Finally, Erste Group Bank downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $89.55.

Cisco Systems Trading Down 2.7%

Cisco Systems stock opened at $79.92 on Friday. The stock has a 50-day simple moving average of $78.97 and a 200 day simple moving average of $75.30. The stock has a market capitalization of $315.68 billion, a P/E ratio of 28.04, a PEG ratio of 3.02 and a beta of 0.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96. Cisco Systems, Inc. has a 52 week low of $52.11 and a 52 week high of $88.18.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.02. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The firm had revenue of $15.35 billion for the quarter, compared to analyst estimates of $15.11 billion. During the same quarter in the prior year, the company earned $0.94 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $1.68 annualized dividend and a yield of 2.1%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s payout ratio is 57.54%.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 19,545 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $76.00, for a total value of $1,485,420.00. Following the transaction, the chief executive officer directly owned 671,095 shares of the company’s stock, valued at $51,003,220. This represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 551 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $77.54, for a total transaction of $42,724.54. Following the sale, the senior vice president owned 27,957 shares of the company’s stock, valued at approximately $2,167,785.78. This represents a 1.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 46,431 shares of company stock worth $3,574,820. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Company Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.