Wahed Invest LLC Grows Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Wahed Invest LLC increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,686 shares of the network equipment provider's stock after purchasing an additional 5,842 shares during the quarter. Cisco Systems makes up 1.0% of Wahed Invest LLC's holdings, making the stock its 15th largest position. Wahed Invest LLC's holdings in Cisco Systems were worth $6,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after acquiring an additional 13,285,052 shares during the last quarter. Norges Bank purchased a new position in shares of Cisco Systems in the fourth quarter worth $3,297,905,000. Northern Trust Corp increased its position in shares of Cisco Systems by 11.4% in the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock valued at $2,796,505,000 after acquiring an additional 4,832,813 shares during the period. Dimensional Fund Advisors LP raised its stake in Cisco Systems by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock worth $1,741,597,000 after acquiring an additional 681,555 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in Cisco Systems by 1.2% during the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider's stock worth $1,107,930,000 after acquiring an additional 216,632 shares during the period. Institutional investors own 73.33% of the company's stock.

Cisco Systems Price Performance

NASDAQ CSCO traded up $0.55 during trading hours on Wednesday, hitting $59.77. 3,695,317 shares of the company's stock traded hands, compared to its average volume of 20,179,390. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The firm's 50-day moving average is $59.02 and its 200-day moving average is $59.38. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a market capitalization of $237.76 billion, a PE ratio of 26.10, a PEG ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data 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 net margin of 16.96% and a return on equity of 26.08%. Equities analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd were issued a dividend of $0.41 per share. The ex-dividend date was Thursday, April 3rd. This is a positive change from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 2.74%. Cisco Systems's dividend payout ratio is 71.62%.

Cisco Systems declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CSCO shares. Rosenblatt Securities reduced their price objective on Cisco Systems from $80.00 to $63.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. UBS Group raised their target price 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. Evercore ISI reduced their price objective on Cisco Systems from $75.00 to $67.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Piper Sandler reduced their price target on Cisco Systems from $72.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Cisco Systems in a research note on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and an average target price of $65.05.

Insider Buying and Selling 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 stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the sale, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Scott Herren sold 19,929 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer now owns 335,605 shares of the company's stock, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,547 shares of company stock valued at $4,275,553 in the last 90 days. 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.