30,000 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Purchased by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co purchased a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 30,000 shares of the network equipment provider's stock, valued at approximately $1,776,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $26,000. Navigoe LLC bought a new position in Cisco Systems during the fourth quarter valued at $26,000. Mpwm Advisory Solutions LLC bought a new position in Cisco Systems during the fourth quarter valued at $26,000. JDM Financial Group LLC grew its holdings in 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 purchasing an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new position in Cisco Systems during the fourth quarter valued at $30,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. The Goldman Sachs Group increased their price objective on Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a report 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. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Finally, Citigroup raised their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Eight equities research 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's stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Cisco Systems Price Performance

NASDAQ:CSCO traded down $0.24 during midday trading on Friday, hitting $62.81. The company had a trading volume of 25,829,006 shares, compared to its average volume of 20,244,721. The company has a market capitalization of $248.73 billion, a PE ratio of 27.43, a P/E/G ratio of 4.16 and a beta of 0.89. 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, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The stock's fifty day moving average price is $59.30 and its 200-day moving average price is $60.12.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly 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 for the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter last year, the business posted $0.88 earnings per share. The company's revenue for the quarter was up 11.4% on a year-over-year basis. As a group, research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given 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 2.61%. Cisco Systems's payout ratio is 66.94%.

Cisco Systems declared that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares in the company, valued at approximately $2,693,013.45. The trade was a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction dated 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 transaction, 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. Insiders have sold 41,616 shares of company stock worth $2,640,095 over the last 90 days. Corporate insiders own 0.01% of the company's stock.

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.