14,445 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Purchased by Castlekeep Investment Advisors LLC

Castlekeep Investment Advisors LLC purchased a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 14,445 shares of the network equipment provider's stock, valued at approximately $855,000.

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

Analyst Upgrades and Downgrades

CSCO has been the topic of several research analyst reports. Barclays restated an "equal weight" rating on shares of Cisco Systems in a research report on Thursday, March 6th. Piper Sandler reduced 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 report on Tuesday, April 8th. Wells Fargo & Company reissued an "equal weight" rating on shares of Cisco Systems in a research note 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 for the company in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. reduced their target price on Cisco Systems from $73.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and a consensus target price of $65.05.

Insider Activity at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems 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 $1,283,626.89. Following the transaction, the chief financial officer now directly owns 335,605 shares of the company's stock, valued at $21,616,318.05. The trade was a 5.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,547 shares of company stock valued at $4,275,553. Company insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

NASDAQ:CSCO traded up $0.06 during trading on Friday, reaching $59.77. The company's stock had a trading volume of 17,480,737 shares, compared to its average volume of 20,300,975. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The firm has a 50 day moving average of $58.78 and a 200-day moving average of $59.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The firm has a market cap of $237.78 billion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS 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%. Research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders 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 annualized dividend and a dividend yield of 2.74%. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio is presently 71.62%.

Cisco Systems declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback 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.