170,361 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Purchased by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 170,361 shares of the network equipment provider's stock, valued at approximately $10,085,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CSCO. FPC Investment Advisory Inc. purchased a new position in Cisco Systems during the fourth quarter valued at $26,000. Navigoe LLC purchased a new position in Cisco Systems in the 4th quarter valued at about $26,000. Runnymede Capital Advisors Inc. acquired a new stake in Cisco Systems in the 4th quarter worth about $30,000. Campbell Capital Management Inc. purchased a new stake in Cisco Systems during the 4th quarter worth approximately $31,000. Finally, Highline Wealth Partners LLC raised its holdings in shares of Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock valued at $35,000 after acquiring an additional 260 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CSCO. StockNews.com lowered Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 5th. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a report on Thursday, March 6th. Citigroup decreased their price target on shares of Cisco Systems from $73.00 to $68.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Piper Sandler dropped their price objective on shares of Cisco Systems from $72.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Finally, UBS Group raised their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $65.05.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now owns 736,120 shares in the company, valued at $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the completion of the sale, the chief financial officer now owns 335,605 shares in the company, valued at approximately $21,616,318.05. The trade was a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock valued at $4,275,553 in the last ninety days. Company insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

Cisco Systems stock opened at $59.33 on Monday. The company's 50 day simple moving average is $59.20 and its 200-day simple moving average is $59.36. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The company has a market capitalization of $236.03 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. As a group, equities research 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 disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd were issued a $0.41 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.76%. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's payout ratio is 71.62%.

Cisco Systems announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Cisco Systems 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.

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