Castlekeep Investment Advisors LLC Makes New Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Castlekeep Investment Advisors LLC bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 14,445 shares of the network equipment provider's stock, valued at approximately $855,000.

A number of other large investors have also added to or reduced their stakes in CSCO. Tallon Kerry Patrick bought a new stake in shares of Cisco Systems during the 4th quarter valued at $603,000. Secure Asset Management LLC grew its position in shares of Cisco Systems by 53.2% during the 4th quarter. Secure Asset Management LLC now owns 6,492 shares of the network equipment provider's stock valued at $384,000 after acquiring an additional 2,254 shares during the period. Brighton Jones LLC grew its position in shares of Cisco Systems by 49.5% during the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after acquiring an additional 24,562 shares during the period. RFG Advisory LLC grew its position in shares of Cisco Systems by 5.2% during the 4th quarter. RFG Advisory LLC now owns 38,405 shares of the network equipment provider's stock valued at $2,274,000 after acquiring an additional 1,889 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in shares of Cisco Systems by 60.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 8,219 shares of the network equipment provider's stock valued at $487,000 after acquiring an additional 3,093 shares during the period. Institutional investors own 73.33% of the company's stock.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the transaction, the senior vice president now owns 44,155 shares in the company, valued at $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. In the last three months, insiders have sold 22,431 shares of company stock worth $1,421,356. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Trading Down 0.4%

Shares of NASDAQ CSCO opened at $63.11 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $59.05 and a two-hundred day simple moving average of $59.94. The firm has a market cap of $249.92 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The business had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same period in the previous year, the company posted $0.88 EPS. Cisco Systems's revenue was up 11.4% on a year-over-year basis. Analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication 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. Stockholders of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.60%. Cisco Systems's dividend payout ratio is presently 66.94%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CSCO shares. 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 research report on Thursday, May 15th. Evercore ISI raised their price target on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. New Street Research reaffirmed a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a research note on Friday, May 16th. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Finally, BNP Paribas upgraded Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 target price for the company in a research report on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $68.00.

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.

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