Freedom Together Foundation Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Freedom Together Foundation trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 79.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,958 shares of the network equipment provider's stock after selling 182,000 shares during the period. Cisco Systems accounts for approximately 0.3% of Freedom Together Foundation's holdings, making the stock its 10th biggest position. Freedom Together Foundation's holdings in Cisco Systems were worth $2,721,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $26,000. Navigoe LLC bought a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. acquired a new position in shares of Cisco Systems during the fourth quarter valued at about $30,000. Campbell Capital Management Inc. acquired a new stake in Cisco Systems during the fourth quarter worth about $31,000. Finally, Highline Wealth Partners LLC increased its stake in Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock valued at $35,000 after acquiring an additional 260 shares during the period. Institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Up 5.0%

Shares of CSCO stock traded up $3.06 on Thursday, hitting $64.35. 44,426,793 shares of the stock were exchanged, compared to its average volume of 20,498,353. The business has a 50-day moving average of $58.65 and a 200 day moving average of $59.54. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The firm has a market capitalization of $255.99 billion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.05. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same period last year, the company earned $0.88 earnings per share. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

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

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.55%. Cisco Systems's dividend payout ratio is currently 71.62%.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the company's stock in a transaction on 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 directly owns 44,155 shares of the company's stock, valued at $2,693,013.45. This represents a 1.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction 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 sale, the executive vice president now directly owns 191,184 shares of the company's stock, valued at $11,604,868.80. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,547 shares of company stock worth $4,275,553. Insiders own 0.01% of the company's stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of analyst reports. StockNews.com cut shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 5th. Evercore ISI cut their target price on shares of Cisco Systems from $75.00 to $67.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Citigroup raised their price target on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday. Piper Sandler boosted their price objective on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Rosenblatt Securities upped their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $66.53.

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.