Forum Financial Management LP Buys 9,380 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Forum Financial Management LP raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 29.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,168 shares of the network equipment provider's stock after acquiring an additional 9,380 shares during the quarter. Forum Financial Management LP's holdings in Cisco Systems were worth $2,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CSCO. Mainstream Capital Management LLC bought a new stake in shares of Cisco Systems during the fourth quarter worth $132,000. Proficio Capital Partners LLC grew its stake in shares of Cisco Systems by 76.4% during the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock worth $1,003,000 after acquiring an additional 7,338 shares during the last quarter. CENTRAL TRUST Co grew its stake in shares of Cisco Systems by 4.8% during the fourth quarter. CENTRAL TRUST Co now owns 112,101 shares of the network equipment provider's stock worth $6,636,000 after acquiring an additional 5,123 shares during the last quarter. Requisite Capital Management LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $1,670,000. Finally, Stonegate Investment Group LLC boosted its position in Cisco Systems by 0.8% in the fourth quarter. Stonegate Investment Group LLC now owns 1,539,557 shares of the network equipment provider's stock valued at $91,142,000 after buying an additional 11,506 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Cisco Systems Trading Down 0.4%

Shares of CSCO opened at $63.11 on Friday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The firm has a market capitalization of $251.07 billion, a price-to-earnings ratio of 27.56, a P/E/G ratio of 4.16 and a beta of 0.89. The stock's 50-day moving average price is $59.05 and its 200 day moving average price is $59.93. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.

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. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Cisco Systems's revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 EPS. As a group, research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its board has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the sale, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. This trade represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the sale, the executive vice president now directly owns 181,186 shares of the company's stock, valued at approximately $11,505,311. The trade was a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,431 shares of company stock worth $1,421,356 in the last three months. Insiders own 0.01% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CSCO shares. Piper Sandler upped their price objective on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. New Street Research reissued a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday. The Goldman Sachs Group lifted their price objective on Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Finally, DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. 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, the company has an average rating of "Moderate Buy" and an average target price of $68.00.

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.

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.