330,000 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Acquired by Nearwater Capital Markets Ltd

Nearwater Capital Markets Ltd 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 330,000 shares of the network equipment provider's stock, valued at approximately $19,536,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CSCO. Fiduciary Alliance LLC boosted its holdings in shares of Cisco Systems by 85.3% in the fourth quarter. Fiduciary Alliance LLC now owns 20,434 shares of the network equipment provider's stock worth $1,210,000 after acquiring an additional 9,405 shares during the period. City State Bank boosted its holdings in shares of Cisco Systems by 12.2% in the fourth quarter. City State Bank now owns 4,365 shares of the network equipment provider's stock worth $258,000 after acquiring an additional 474 shares during the period. Cooper Financial Group boosted its holdings in shares of Cisco Systems by 9.0% in the fourth quarter. Cooper Financial Group now owns 15,440 shares of the network equipment provider's stock worth $914,000 after acquiring an additional 1,276 shares during the period. Eastern Bank boosted its holdings in shares of Cisco Systems by 2.2% in the fourth quarter. Eastern Bank now owns 36,067 shares of the network equipment provider's stock worth $2,135,000 after acquiring an additional 760 shares during the period. Finally, Elevated Capital Advisors LLC boosted its holdings in shares of Cisco Systems by 28.5% in the fourth quarter. Elevated Capital Advisors LLC now owns 9,336 shares of the network equipment provider's stock worth $553,000 after acquiring an additional 2,073 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 11,808 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $64.37, for a total transaction of $760,080.96. Following the transaction, the executive vice president now owns 200,191 shares in the company, valued at approximately $12,886,294.67. This represents a 5.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 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 disclosure for this sale can be found here. Insiders have sold a total of 14,635 shares of company stock worth $931,901 in the last 90 days. Company insiders own 0.01% of the company's stock.

Cisco Systems Trading Down 1.0%

NASDAQ:CSCO traded down $0.64 during mid-day trading on Friday, reaching $63.62. 30,263,445 shares of the company's stock traded hands, compared to its average volume of 20,420,202. 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 $253.10 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 4.16 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The company has a 50 day moving average price of $58.75 and a 200-day moving average price of $59.66.

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, beating analysts' consensus estimates of $0.91 by $0.05. 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 for the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the previous year, the business earned $0.88 EPS. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems declared that its board has authorized a share repurchase 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 buy up to 6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its shares are undervalued.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued 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 2.58%. Cisco Systems's dividend payout ratio is presently 71.62%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Rosenblatt Securities lifted their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday. BNP Paribas raised Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price objective for the company in a research note on Tuesday, January 28th. Piper Sandler lifted their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $72.00 to $75.00 in a research note on Thursday. Finally, StockNews.com raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.47.

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.