Avantax Increases Stake in Cisco Systems with 4,525 New Shares

Avantax Advisory Services Inc. has raised its investment in Cisco Systems, Inc. (NASDAQ: CSCO) by 1.1% during the second quarter of 2023. The company reported this increase in its most recent 13F filing with the U.S. Securities and Exchange Commission (SEC). Following the acquisition of an additional 4,525 shares, Avantax now holds a total of 420,336 shares in the network equipment provider, valued at approximately $29.16 million at the end of the quarter.

This move is part of a broader trend, as several institutional investors have adjusted their positions in Cisco Systems recently. Notably, Financial Connections Group Inc. boosted its stake by an impressive 89.4%, now owning 409 shares worth around $28,000 after purchasing an additional 193 shares. Other firms, including Legacy Investment Solutions LLC and Pandora Wealth Inc., also acquired new positions in Cisco during this period, reflecting growing confidence in the company’s potential.

Analyst Ratings and Market Performance

Research firms have been active in issuing new ratings for Cisco Systems. In a recent report, JPMorgan Chase & Co. increased its price target for the stock from $80.00 to $90.00, designating it with an “overweight” rating. Similarly, Bank of America raised its target from $85.00 to $95.00 while maintaining a “buy” rating. Meanwhile, HSBC adjusted its price objective from $69.00 to $74.00, assigning a “hold” recommendation.

Currently, Cisco Systems has garnered a consensus rating of “Moderate Buy” from 16 analysts, with a target price averaging $83.75. The stock opened at $78.00 on the most recent trading day, representing a 0.8% increase. Cisco’s market capitalization stands at approximately $307.38 billion, with a price-to-earnings ratio of 29.77 and a beta of 0.95.

The company recently reported its quarterly earnings results, demonstrating solid performance. For the quarter ending November 12, 2023, Cisco posted an earnings per share (EPS) of $1.00, surpassing analysts’ expectations of $0.98. Revenue for the quarter reached $14.88 billion, exceeding forecasts of $14.77 billion. This reflects a year-on-year revenue growth of 7.5%.

Dividend Announcement and Insider Transactions

Cisco Systems has declared a quarterly dividend of $0.41 per share, payable on January 21, 2026, to shareholders of record as of January 2, 2026. This translates to an annualized dividend of $1.64, yielding 2.1%. The company’s dividend payout ratio currently stands at 61.65%, indicating a commitment to returning value to shareholders.

In terms of insider transactions, notable sales were recorded recently. Executive Vice President Thimaya K. Subaiya sold 1,744 shares at an average price of $66.78, totaling approximately $116,464.32. This sale resulted in a 1.09% decrease in Subaiya’s holdings. Similarly, EVP Deborah L. Stahlkopf sold 2,718 shares at an average price of $68.08, amounting to about $185,041.44. These transactions have drawn attention, with insiders having sold a total of 33,089 shares worth $2.24 million in the last three months.

Cisco Systems, Inc. continues to be a significant player in the Internet Protocol-based networking and communications technology industry, with a diverse product portfolio encompassing enterprise routing, switching, and wireless solutions. As the company navigates the current market landscape, its actions and performance remain closely watched by investors and analysts alike.