Bragg Financial Advisors Inc lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 359,208 shares of the network equipment provider's stock after buying an additional 7,711 shares during the quarter. Bragg Financial Advisors Inc's holdings in Cisco Systems were worth $21,265,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at $26,000. Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems in the fourth quarter valued at $30,000. Campbell Capital Management Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter valued at about $31,000. Highline Wealth Partners LLC boosted its stake in shares of Cisco Systems by 76.7% during the fourth 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 period. Finally, Synergy Investment Management LLC acquired a new stake in Cisco Systems during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 73.33% of the company's stock.
Analyst Ratings Changes
Several research firms have recently commented on CSCO. Melius upgraded Cisco Systems from a "hold" rating to a "buy" rating and upped their price target for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. BNP Paribas upgraded shares of Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 target price for the company in a research note on Tuesday, January 28th. Piper Sandler dropped their price target on shares of Cisco Systems from $72.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. raised their price objective on shares of Cisco Systems from $69.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Finally, UBS Group increased their target price on Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Seven 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $65.74.
Check Out Our Latest Report on CSCO
Cisco Systems Trading Up 0.6 %
Shares of CSCO traded up $0.32 on Tuesday, hitting $57.73. 828,281 shares of the stock traded hands, compared to its average volume of 20,022,721. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The stock's 50 day moving average is $61.19 and its two-hundred day moving average is $59.08. The firm has a market capitalization of $229.68 billion, a P/E ratio of 25.19, a P/E/G 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 (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 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, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.
Cisco Systems Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a $0.41 dividend. The ex-dividend date is Thursday, April 3rd. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.84%. Cisco Systems's dividend payout ratio (DPR) is currently 71.62%.
Cisco Systems announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.
Insider Activity at Cisco Systems
In other news, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction dated 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 in the company, valued at $2,693,013.45. This trade represents a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction that occurred on 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 of the company's stock, 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. Over the last three months, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is owned by company insiders.
Cisco Systems Company Profile
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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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