Griffith & Werner Inc. Acquires New Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Griffith & Werner Inc. bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,744 shares of the network equipment provider's stock, valued at approximately $399,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Navigoe LLC acquired a new stake in shares of Cisco Systems during the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. JDM Financial Group LLC raised its stake in shares of Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after acquiring an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $30,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on CSCO shares. JPMorgan Chase & Co. increased their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. The Goldman Sachs Group lifted their target price on Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Piper Sandler increased their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Evercore ISI raised their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Finally, Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus price target of $68.00.

Cisco Systems Stock Performance

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

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

Cisco Systems Announces Dividend

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 dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.60%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems announced that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 9,643 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.50, for a total value of $612,330.50. Following the completion of the transaction, the executive vice president now owns 181,186 shares in the company, valued at $11,505,311. This trade represents a 5.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 191,184 shares in the company, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,431 shares of company stock worth $1,421,356. 0.01% of the stock is currently owned by company insiders.

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.

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