Wahed Invest LLC Raises Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Wahed Invest LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 103,686 shares of the network equipment provider's stock after purchasing an additional 5,842 shares during the quarter. Cisco Systems accounts for 1.0% of Wahed Invest LLC's holdings, making the stock its 15th biggest holding. Wahed Invest LLC's holdings in Cisco Systems were worth $6,138,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mainstream Capital Management LLC bought a new position in Cisco Systems in the 4th quarter valued at approximately $132,000. GAMMA Investing LLC boosted its holdings in shares of Cisco Systems by 13.1% during the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider's stock valued at $5,527,000 after acquiring an additional 10,813 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in Cisco Systems by 76.4% in the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock worth $1,003,000 after purchasing an additional 7,338 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in Cisco Systems in the third quarter valued at about $502,000. Finally, Nordea Investment Management AB boosted its stake in shares of Cisco Systems by 1.2% during the fourth quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider's stock valued at $1,107,930,000 after purchasing an additional 216,632 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Price Performance

Shares of CSCO traded down $0.01 during midday trading on Monday, hitting $59.32. 14,753,568 shares of the company traded hands, compared to its average volume of 20,246,256. The stock has a 50-day moving average of $59.20 and a 200-day moving average of $59.36. 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 one year low of $44.50 and a one year high of $66.50. The firm has a market cap of $235.99 billion, a P/E ratio of 25.90, a PEG ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding 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 generally an indication that the company's board believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.76%. This is a boost 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 (DPR) is currently 71.62%.

Insider Buying and Selling

In other news, 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 transaction of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares of the company's stock, valued at approximately $2,693,013.45. This represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction 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. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,547 shares of company stock worth $4,275,553 in the last quarter. 0.01% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CSCO. Rosenblatt Securities dropped their price objective on shares of Cisco Systems from $80.00 to $63.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. StockNews.com lowered shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 5th. Citigroup decreased their price objective on Cisco Systems from $73.00 to $68.00 and set a "buy" rating for the company in a report on Monday, April 14th. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, Piper Sandler cut 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. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $65.05.

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.