Ethic Inc. increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 431,762 shares of the network equipment provider's stock after buying an additional 6,122 shares during the quarter. Cisco Systems comprises approximately 0.5% of Ethic Inc.'s portfolio, making the stock its 22nd biggest position. Ethic Inc.'s holdings in Cisco Systems were worth $25,560,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in CSCO. First Hawaiian Bank raised its stake in shares of Cisco Systems by 4.6% in the fourth quarter. First Hawaiian Bank now owns 41,328 shares of the network equipment provider's stock worth $2,447,000 after purchasing an additional 1,807 shares during the last quarter. Watts Gwilliam & Co. LLC raised its position in Cisco Systems by 1.9% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 20,126 shares of the network equipment provider's stock valued at $1,186,000 after purchasing an additional 375 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Cisco Systems by 0.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,604,217 shares of the network equipment provider's stock valued at $154,170,000 after buying an additional 8,158 shares in the last quarter. Franklin Street Advisors Inc. NC grew its stake in shares of Cisco Systems by 2.7% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 85,663 shares of the network equipment provider's stock valued at $5,071,000 after buying an additional 2,290 shares in the last quarter. Finally, CCM Investment Advisers LLC grew its stake in Cisco Systems by 4.3% during the 4th quarter. CCM Investment Advisers LLC now owns 326,303 shares of the network equipment provider's stock worth $19,317,000 after purchasing an additional 13,554 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Cisco Systems news, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems 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 transaction, the chief financial officer now owns 335,605 shares of the company's stock, valued at $21,616,318.05. The trade was a 5.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Charles Robbins sold 31,983 shares of Cisco Systems 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 sale, the chief executive officer now owns 736,120 shares in the company, valued at approximately $47,413,489.20. This represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is owned by insiders.
Cisco Systems Trading Up 0.1%
Cisco Systems stock traded up $0.06 during trading hours on Friday, hitting $59.77. The company had a trading volume of 17,480,737 shares, compared to its average volume of 20,300,975. 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 P/E ratio of 26.10, a P/E/G ratio of 4.16 and a beta of 0.89. The company has a 50-day moving average price of $58.78 and a two-hundred day moving average price of $59.47. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly 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 return on equity of 26.08% and a net margin of 16.96%. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.
Cisco Systems announced that its board has authorized a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its shares are undervalued.
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. This represents a $1.64 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend was Thursday, April 3rd. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's payout ratio is currently 71.62%.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the company. 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 report on Thursday, April 17th. Piper Sandler lowered their target price on Cisco Systems from $72.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group increased their price target on Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. DZ Bank raised Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. Finally, UBS Group raised their target price on Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Seven 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's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $65.05.
View Our Latest Analysis on Cisco Systems
About Cisco Systems
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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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