UP Strategic Wealth Investment Advisors LLC purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 4,889 shares of the network equipment provider's stock, valued at approximately $289,000.
A number of other institutional investors have also modified their holdings of the business. FPC Investment Advisory Inc. acquired a new stake in Cisco Systems in the fourth quarter worth $26,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems in the 4th quarter worth about $30,000. Campbell Capital Management Inc. bought a new stake in Cisco Systems in the 4th quarter valued at about $31,000. Highline Wealth Partners LLC boosted its stake in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock valued at $35,000 after purchasing an additional 260 shares during the period. Finally, Synergy Investment Management LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $36,000. Institutional investors own 73.33% of the company's stock.
Cisco Systems Stock Performance
NASDAQ CSCO traded up $0.64 during trading on Tuesday, hitting $57.48. The company's stock had a trading volume of 4,259,125 shares, compared to its average volume of 20,178,179. The firm has a 50 day moving average price of $59.67 and a 200 day moving average price of $59.29. The firm has a market cap of $228.66 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86. 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.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.
Cisco Systems Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd were paid a dividend of $0.41 per share. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.85%. Cisco Systems's dividend payout ratio (DPR) is currently 71.62%.
Cisco Systems announced that its board has approved a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the company. DZ Bank upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. Evercore ISI lowered their target price on Cisco Systems from $75.00 to $67.00 and set an "outperform" rating on the stock in a report on Monday. Rosenblatt Securities lowered their price objective on shares of Cisco Systems from $80.00 to $63.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Piper Sandler reduced their target price on shares of Cisco Systems from $72.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Cisco Systems from $73.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.05.
Get Our Latest Stock Report on Cisco Systems
Insider Transactions at Cisco Systems
In other news, CFO Richard Scott Herren sold 19,929 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the sale, the chief financial officer now owns 335,605 shares in the company, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company's stock in a transaction dated 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 approximately $11,604,868.80. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,547 shares of company stock valued at $4,275,553. Corporate insiders own 0.01% of the company's stock.
About Cisco Systems
(
Free Report)
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.
Featured Articles
Before you consider Cisco Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cisco Systems wasn't on the list.
While Cisco Systems currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
