Perennial Advisors LLC Takes Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Perennial Advisors LLC acquired a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 128,853 shares of the network equipment provider's stock, valued at approximately $7,628,000. Cisco Systems accounts for approximately 1.7% of Perennial Advisors LLC's holdings, making the stock its 21st biggest holding.

Other large investors also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new stake in shares of Cisco Systems during the 4th quarter worth $26,000. Navigoe LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems in the 4th quarter worth approximately $26,000. JDM Financial Group LLC grew its holdings 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 buying an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Cisco Systems in the fourth quarter valued at about $30,000. Institutional investors own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

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 stock was 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. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the business'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 completion of 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 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 insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Evercore ISI lifted their price objective on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Wall Street Zen raised shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. 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. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. Finally, Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Cisco Systems Stock Up 0.9%

Shares of CSCO traded up $0.59 during midday trading on Tuesday, reaching $63.70. The stock had a trading volume of 10,480,634 shares, compared to its average volume of 20,315,126. The company has a market cap of $252.26 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 4.16 and a beta of 0.89. The company's fifty day simple moving average is $59.09 and its two-hundred day simple moving average is $59.99. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. 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 (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping 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 company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the previous year, the business earned $0.88 EPS. Cisco Systems's revenue for the quarter was up 11.4% on a year-over-year basis. Equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows 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 stock is undervalued.

Cisco Systems Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.57%. Cisco Systems's payout ratio is currently 66.94%.

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.