Cypress Asset Management Inc. TX Buys Shares of 7,705 Cisco Systems, Inc. (NASDAQ:CSCO)

Cypress Asset Management Inc. TX bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,705 shares of the network equipment provider's stock, valued at approximately $456,000.

A number of other hedge funds have also recently bought and sold shares of CSCO. Pflug Koory LLC grew its position in shares of Cisco Systems by 0.5% in the 4th quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider's stock valued at $1,955,000 after acquiring an additional 165 shares during the period. Glass Jacobson Investment Advisors llc grew its holdings in Cisco Systems by 8.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after purchasing an additional 166 shares during the period. Fairhaven Wealth Management LLC grew its holdings in Cisco Systems by 2.3% during the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock worth $449,000 after purchasing an additional 167 shares during the period. BlackDiamond Wealth Management LLC raised its stake in Cisco Systems by 3.1% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock valued at $335,000 after buying an additional 168 shares during the period. Finally, Legacy Financial Group Inc. lifted its position in shares of Cisco Systems by 3.4% in the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after buying an additional 169 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. BNP Paribas raised Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 target price on the stock in a research report on Tuesday, January 28th. DZ Bank raised Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. increased their price target on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Eight 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's stock. According to data from MarketBeat, Cisco Systems has a consensus rating of "Moderate Buy" and an average target price of $68.00.

Cisco Systems Trading Up 1.0%

Shares of Cisco Systems stock traded up $0.64 during trading on Tuesday, hitting $63.75. The company's stock had a trading volume of 17,422,554 shares, compared to its average volume of 20,322,613. 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 52 week low of $44.50 and a 52 week high of $66.50. The stock has a market cap of $252.45 billion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. The stock has a 50-day moving average price of $59.09 and a two-hundred day moving average price 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, 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 firm had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter last year, the firm posted $0.88 earnings per share. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio is presently 66.94%.

Cisco Systems announced that its board has initiated a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the transaction, the executive vice president now owns 181,186 shares in the company, valued at approximately $11,505,311. This represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,431 shares of company stock worth $1,421,356. Insiders own 0.01% of the company's stock.

About Cisco Systems

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.