Aigen Investment Management LP bought a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 60,470 shares of the network equipment provider's stock, valued at approximately $3,580,000. Cisco Systems accounts for approximately 0.6% of Aigen Investment Management LP's portfolio, making the stock its 19th biggest holding.
A number of other institutional investors have also recently modified their holdings of the stock. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems during the 4th quarter worth $26,000. Highline Wealth Partners LLC lifted its position in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock worth $35,000 after buying an additional 260 shares during the last quarter. Synergy Investment Management LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth $36,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Cisco Systems during the 3rd quarter worth $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Cisco Systems during the 4th quarter worth $49,000. 73.33% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. Piper Sandler upped their target price on Cisco Systems from $57.00 to $72.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. upped their target price on Cisco Systems from $69.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. DZ Bank raised Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Morgan Stanley upped their target price on Cisco Systems from $62.00 to $68.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Finally, UBS Group upped their target price on Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Seven 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $66.63.
Get Our Latest Stock Analysis on CSCO
Cisco Systems Stock Up 1.1 %
Shares of NASDAQ:CSCO traded up $0.70 during mid-day trading on Wednesday, hitting $63.96. 14,930,577 shares of the company traded hands, compared to its average volume of 19,941,484. The stock has a market cap of $254.45 billion, a P/E ratio of 27.93, a P/E/G ratio of 4.16 and a beta of 0.84. 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, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The stock has a 50-day moving average price of $61.47 and a two-hundred day moving average price of $57.20.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share 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%. On average, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.
Cisco Systems Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.56%. Cisco Systems's dividend payout ratio is 71.62%.
Cisco Systems announced that its Board of Directors has authorized a share repurchase plan 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 repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
Insiders Place Their Bets
In other Cisco Systems news, EVP Thimaya K. Subaiya sold 3,042 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $59.19, for a total transaction of $180,055.98. Following the completion of the transaction, the executive vice president now owns 207,798 shares in the company, valued at $12,299,563.62. This trade represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares in the company, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,848 shares of company stock worth $4,767,206 over the last quarter. 0.01% of the stock is currently owned by company insiders.
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.
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