Northwest & Ethical Investments L.P. Has $5.59 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Northwest & Ethical Investments L.P. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 34.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,483 shares of the network equipment provider's stock after selling 48,800 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Cisco Systems were worth $5,593,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Mainstream Capital Management LLC acquired a new stake in Cisco Systems in the 4th quarter valued at about $132,000. Morse Asset Management Inc bought a new position in shares of Cisco Systems during the third quarter worth approximately $798,000. HighVista Strategies LLC acquired a new stake in shares of Cisco Systems in the third quarter valued at approximately $1,698,000. GAMMA Investing LLC boosted its stake in shares of Cisco Systems by 13.1% in the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider's stock valued at $5,527,000 after buying an additional 10,813 shares during the period. Finally, Proficio Capital Partners LLC increased its stake in Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock worth $1,003,000 after acquiring an additional 7,338 shares during the period. Institutional investors own 73.33% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CSCO. BNP Paribas raised Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 target price on the stock in a report on Tuesday, January 28th. Piper Sandler reissued a "neutral" rating on shares of Cisco Systems in a report on Thursday, March 6th. Melius raised shares of 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 report on Monday, January 6th. Wells Fargo & Company reissued an "equal weight" rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, Melius Research raised Cisco Systems from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $66.63.

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Cisco Systems Trading Up 0.0 %

Shares of Cisco Systems stock traded up $0.02 during trading on Tuesday, hitting $60.99. The company's stock had a trading volume of 20,875,770 shares, compared to its average volume of 18,012,449. The stock has a market cap of $242.64 billion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The stock has a 50-day moving average price of $62.00 and a two-hundred day moving average price of $58.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly 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 net margin of 16.96% and a return on equity of 26.08%. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently declared 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. This is a positive change from Cisco Systems's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.69%. Cisco Systems's dividend payout ratio (DPR) is presently 71.62%.

Cisco Systems declared that its Board of Directors has authorized 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 reacquire up to 6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Insider Transactions at Cisco Systems

In related news, CFO Richard Scott Herren sold 19,929 shares of the firm's 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 $1,283,626.89. Following the completion of the sale, the chief financial officer now owns 335,605 shares of the company's stock, valued at $21,616,318.05. This trade represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $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 have sold 66,547 shares of company stock worth $4,275,553. Company insiders own 0.01% of the company's stock.

Cisco Systems Company 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.