Broyhill Asset Management Acquires New Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Broyhill Asset Management acquired a new position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 8,337 shares of the network equipment provider's stock, valued at approximately $494,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC boosted its stake in Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after acquiring an additional 13,285,052 shares in the last quarter. Norges Bank bought a new stake in shares of Cisco Systems in the fourth quarter worth $3,297,905,000. Nordea Investment Management AB increased its position in shares of Cisco Systems by 1.2% during the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider's stock valued at $1,107,930,000 after purchasing an additional 216,632 shares during the last quarter. Franklin Resources Inc. increased its holdings in Cisco Systems by 7.0% during the third quarter. Franklin Resources Inc. now owns 18,214,461 shares of the network equipment provider's stock valued at $988,499,000 after buying an additional 1,195,469 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Cisco Systems by 18.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 13,880,257 shares of the network equipment provider's stock worth $821,711,000 after purchasing an additional 2,114,994 shares during the period. Institutional investors own 73.33% of the company's stock.

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Insiders Place Their Bets

In other news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the sale, the chief executive officer now owns 736,120 shares of the company's stock, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of the company's stock in a transaction dated 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 completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock valued at $4,275,553 in the last quarter. Insiders own 0.01% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CSCO shares. Piper Sandler lowered their target price on shares of Cisco Systems from $72.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Melius Research raised shares of Cisco Systems from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. StockNews.com downgraded shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 5th. Rosenblatt Securities raised shares of Cisco Systems from a "neutral" rating to a "buy" rating and increased their price target for the company from $66.00 to $80.00 in a research report on Thursday, February 13th. Finally, Melius upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and lifted their target price for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Seven investment 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. According to data from MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.74.

Cisco Systems Stock Up 0.1 %

Shares of NASDAQ CSCO traded up $0.08 on Monday, hitting $57.41. The company had a trading volume of 15,657,094 shares, compared to its average volume of 20,097,317. The firm has a market capitalization of $228.39 billion, a P/E ratio of 25.07, a PEG 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 12-month low of $44.50 and a 12-month high of $66.50. The business has a 50 day moving average of $61.19 and a two-hundred day moving average of $59.08.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data 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 net margin of 16.96% and a return on equity of 26.08%. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.86%. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio is presently 71.62%.

Cisco Systems 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.