Bolthouse Investments LLC Invests $399,000 in Cisco Systems, Inc. (NASDAQ:CSCO)

Bolthouse Investments LLC bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,743 shares of the network equipment provider's stock, valued at approximately $399,000.

Several other hedge funds also recently made changes to their positions in the company. Advisory Resource Group boosted its position in Cisco Systems by 1.9% during the 3rd quarter. Advisory Resource Group now owns 97,718 shares of the network equipment provider's stock valued at $5,201,000 after purchasing an additional 1,784 shares during the period. Morse Asset Management Inc acquired a new position in Cisco Systems during the 3rd quarter valued at approximately $798,000. SkyView Investment Advisors LLC boosted its position in Cisco Systems by 4.5% during the 3rd quarter. SkyView Investment Advisors LLC now owns 10,188 shares of the network equipment provider's stock valued at $542,000 after purchasing an additional 440 shares during the period. Tudor Financial Inc. acquired a new position in Cisco Systems during the 3rd quarter worth $1,097,000. Finally, World Investment Advisors LLC boosted its position in Cisco Systems by 13.9% during the 3rd quarter. World Investment Advisors LLC now owns 137,503 shares of the network equipment provider's stock worth $7,318,000 after acquiring an additional 16,749 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded up $0.13 during midday trading on Monday, reaching $56.84. The company had a trading volume of 23,101,648 shares, compared to its average volume of 20,240,080. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $226.13 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86. The stock has a fifty day simple moving average of $59.83 and a 200 day simple moving average of $59.27. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend was Thursday, April 3rd. This is a positive change from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's payout ratio is currently 71.62%.

Insiders Place Their Bets

In other Cisco Systems news, CFO Richard Scott Herren sold 19,929 shares of the business's stock in a transaction dated Friday, February 14th. The shares were 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 directly owns 335,605 shares of the company's stock, valued at $21,616,318.05. The trade was a 5.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the business'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 sale, the executive vice president now directly owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,547 shares of company stock valued at $4,275,553. Company insiders own 0.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Evercore ISI reduced their price target on Cisco Systems from $75.00 to $67.00 and set an "outperform" rating for the company in a research report on Monday. Citigroup reduced their price target on Cisco Systems from $73.00 to $68.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Piper Sandler reduced their price target on Cisco Systems from $72.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. dropped their price objective on Cisco Systems from $73.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $65.05.

About Cisco Systems

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.