Polar Capital Holdings Plc Makes New $10.70 Million Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Polar Capital Holdings Plc acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 180,671 shares of the network equipment provider's stock, valued at approximately $10,696,000.

Several other large investors also recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new position in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Navigoe LLC acquired a new position in shares of Cisco Systems during the 4th quarter valued at $26,000. Runnymede Capital Advisors Inc. bought a new position in Cisco Systems during the fourth quarter worth $30,000. Campbell Capital Management Inc. acquired a new stake in Cisco Systems in the fourth quarter worth $31,000. Finally, Synergy Investment Management LLC bought a new stake in Cisco Systems in the fourth quarter valued at $36,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the sale, the senior vice president now directly owns 44,155 shares of the company's stock, valued at $2,693,013.45. This represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares of the company's stock, valued at $11,604,868.80. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,635 shares of company stock valued at $931,901. 0.01% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several research reports. Piper Sandler raised their target price on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday. Citigroup raised their price objective on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $72.00 to $75.00 in a research report on Thursday. BNP Paribas raised shares of Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price target for the company in a research report on Tuesday, January 28th. Finally, UBS Group upped their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.00.

Cisco Systems Stock Performance

Shares of CSCO traded up $0.30 on Monday, reaching $63.92. 16,237,572 shares of the company's stock traded hands, compared to its average volume of 20,397,108. The stock's 50 day simple moving average is $58.75 and its two-hundred day simple moving average is $59.72. The stock has a market cap of $254.29 billion, a PE ratio of 27.91, a PEG ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 EPS. On average, analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its board has approved a stock buyback program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.57%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

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.