14,455 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Purchased by Bridgefront Capital LLC

Bridgefront Capital LLC bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 14,455 shares of the network equipment provider's stock, valued at approximately $856,000.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CSCO shares. Citigroup cut their price objective 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 decreased their price objective on shares of Cisco Systems from $72.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group boosted their target price on Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Cisco Systems in a report on Thursday, March 6th. Finally, DZ Bank upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $65.05.

Cisco Systems Stock Performance

CSCO traded up $0.33 during trading on Wednesday, hitting $59.55. The stock had a trading volume of 14,078,198 shares, compared to its average volume of 20,243,750. 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, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The company has a 50 day simple moving average of $59.02 and a 200-day simple moving average of $59.38. The firm has a market cap of $236.91 billion, a PE ratio of 26.00, a P/E/G ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd were given a dividend of $0.41 per share. 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 2.75%. This is a positive change from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio is currently 71.62%.

Cisco Systems declared that its board has initiated a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Insider Activity at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the transaction, the senior vice president now directly owns 44,155 shares of the company's stock, valued at approximately $2,693,013.45. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,547 shares of company stock worth $4,275,553. Company insiders own 0.01% of the company's stock.

Cisco Systems Company 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.