AlTi Global Inc. Increases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

AlTi Global Inc. boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 49.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,483 shares of the network equipment provider's stock after acquiring an additional 6,811 shares during the period. AlTi Global Inc.'s holdings in Cisco Systems were worth $1,217,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new position in shares of Cisco Systems during the 4th quarter valued at $26,000. Navigoe LLC bought a new position in Cisco Systems during the fourth quarter worth about $26,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Cisco Systems in the fourth quarter worth about $30,000. Campbell Capital Management Inc. bought a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $31,000. Finally, Highline Wealth Partners LLC lifted its stake in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock valued at $35,000 after buying an additional 260 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 31,983 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was 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 of the company's stock, valued at approximately $47,413,489.20. This represents a 4.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,547 shares of company stock worth $4,275,553. Company insiders own 0.01% of the company's stock.

Analysts Set New Price Targets

CSCO has been the topic of a number of analyst reports. Evercore ISI lowered their target price on shares of Cisco Systems from $75.00 to $67.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Barclays restated an "equal weight" rating on shares of Cisco Systems in a research note on Thursday, March 6th. Rosenblatt Securities lowered their price target on shares of Cisco Systems from $80.00 to $63.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group upped their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. lowered their price objective on Cisco Systems from $73.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $65.05.

Cisco Systems Trading Down 0.2 %

Cisco Systems stock traded down $0.11 during mid-day trading on Friday, hitting $59.60. The company's stock had a trading volume of 10,192,652 shares, compared to its average volume of 20,210,259. The business has a 50 day moving average price of $58.85 and a 200-day moving average price of $59.41. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The stock has a market cap of $237.11 billion, a price-to-earnings ratio of 26.03, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate 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, analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its Board of Directors has initiated 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 repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.75%. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 3rd. Cisco Systems's dividend payout ratio is 71.62%.

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.