Signature Resources Capital Management LLC Takes $231,000 Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Signature Resources Capital Management LLC bought a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,578 shares of the network equipment provider’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Waddell & Associates LLC increased its position in shares of Cisco Systems by 0.8% during the 3rd quarter. Waddell & Associates LLC now owns 24,693 shares of the network equipment provider’s stock valued at $1,328,000 after purchasing an additional 191 shares during the last quarter. Sax Wealth Advisors LLC increased its position in shares of Cisco Systems by 3.6% during the 3rd quarter. Sax Wealth Advisors LLC now owns 5,686 shares of the network equipment provider’s stock valued at $306,000 after purchasing an additional 196 shares during the last quarter. Winch Advisory Services LLC increased its position in shares of Cisco Systems by 19.3% during the 3rd quarter. Winch Advisory Services LLC now owns 1,232 shares of the network equipment provider’s stock valued at $66,000 after purchasing an additional 199 shares during the last quarter. Gill Capital Partners LLC increased its position in shares of Cisco Systems by 5.2% during the 3rd quarter. Gill Capital Partners LLC now owns 4,155 shares of the network equipment provider’s stock valued at $223,000 after purchasing an additional 207 shares during the last quarter. Finally, Madrona Financial Services LLC increased its position in shares of Cisco Systems by 2.4% during the 4th quarter. Madrona Financial Services LLC now owns 8,970 shares of the network equipment provider’s stock valued at $453,000 after purchasing an additional 207 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded up $0.33 during trading on Friday, reaching $47.12. 17,935,302 shares of the stock traded hands, compared to its average volume of 17,219,910. The company has a market capitalization of $190.80 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 2.72 and a beta of 0.87. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The business has a fifty day simple moving average of $48.79 and a two-hundred day simple moving average of $49.83.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.84 by $0.03. The company had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm’s revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the business posted $0.76 earnings per share. Sell-side analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were given a $0.40 dividend. The ex-dividend date was Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.40%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio (DPR) is currently 48.63%.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares in the company, valued at $2,906,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares in the company, valued at $2,906,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,441 shares of company stock worth $972,080. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several analyst reports. Citigroup initiated coverage on shares of Cisco Systems in a report on Friday, April 12th. They issued a “neutral” rating and a $52.00 target price for the company. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $55.00 to $60.00 in a research note on Monday, April 15th. Piper Sandler lifted their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Melius lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $55.53.

About Cisco Systems

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.