Peak Retirement Planning Inc. Takes Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Peak Retirement Planning Inc. purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 15,579 shares of the network equipment provider's stock, valued at approximately $923,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mainstream Capital Management LLC bought a new stake in Cisco Systems in the 4th quarter valued at about $132,000. Proficio Capital Partners LLC lifted its position 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 valued at $1,003,000 after purchasing an additional 7,338 shares during the last quarter. CENTRAL TRUST Co lifted its position in Cisco Systems by 4.8% in the 4th quarter. CENTRAL TRUST Co now owns 112,101 shares of the network equipment provider's stock valued at $6,636,000 after purchasing an additional 5,123 shares during the last quarter. Requisite Capital Management LLC bought a new stake in Cisco Systems in the 4th quarter valued at about $1,670,000. Finally, Stonegate Investment Group LLC raised its position in shares of Cisco Systems by 0.8% during the 4th quarter. Stonegate Investment Group LLC now owns 1,539,557 shares of the network equipment provider's stock worth $91,142,000 after buying an additional 11,506 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jeetendra I. Patel sold 9,961 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the sale, the insider now owns 257,162 shares of the company's stock, valued at $16,450,653.14. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares of the company's stock, 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. In the last ninety days, insiders have sold 22,431 shares of company stock valued at $1,421,356. 0.01% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on CSCO. New Street Research reissued a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. DZ Bank raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. Piper Sandler boosted their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Finally, Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Cisco Systems Trading Up 1.0%

Shares of CSCO traded up $0.64 during trading hours on Tuesday, hitting $63.75. 15,677,938 shares of the stock were exchanged, compared to its average volume of 22,153,359. The firm has a market capitalization of $252.45 billion, a P/E ratio of 27.84, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. 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 business has a 50-day moving average of $59.09 and a 200-day moving average of $59.99.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is currently 66.94%.

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.