BridgePort Financial Solutions LLC Takes $252,000 Position in Cisco Systems, Inc. (NASDAQ:CSCO)

BridgePort Financial Solutions LLC acquired a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,946 shares of the network equipment provider's stock, valued at approximately $252,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Tallon Kerry Patrick acquired a new stake in shares of Cisco Systems during the fourth quarter worth $603,000. Brighton Jones LLC increased its holdings in shares of Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock worth $4,392,000 after acquiring an additional 24,562 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of Cisco Systems by 60.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 8,219 shares of the network equipment provider's stock worth $487,000 after acquiring an additional 3,093 shares during the period. Cornerstone Wealth Group LLC increased its holdings in shares of Cisco Systems by 13.2% in the 4th quarter. Cornerstone Wealth Group LLC now owns 9,565 shares of the network equipment provider's stock worth $566,000 after acquiring an additional 1,114 shares during the period. Finally, Foundations Investment Advisors LLC increased its holdings in shares of Cisco Systems by 5.4% in the 4th quarter. Foundations Investment Advisors LLC now owns 27,086 shares of the network equipment provider's stock worth $1,604,000 after acquiring an additional 1,387 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the firm's 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 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 disclosure for this sale can be found here. Over the last three months, insiders sold 41,616 shares of company stock worth $2,640,095. 0.01% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup increased their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. UBS Group increased their price objective 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. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Finally, Piper Sandler increased their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.00.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO traded down $0.24 during trading hours on Friday, hitting $62.81. 25,829,006 shares of the company's stock traded hands, compared to its average volume of 20,319,221. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The company's fifty day simple moving average is $59.26 and its two-hundred day simple moving average is $60.07. The company has a market cap of $248.73 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results 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. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same period last year, the company posted $0.88 earnings per share. The business's revenue for the quarter was up 11.4% on a year-over-year basis. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its board has approved a share buyback plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is 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 dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio is currently 66.94%.

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.