Adams Diversified Equity Fund Inc. Acquires 142,000 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Adams Diversified Equity Fund Inc. boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 61.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 374,800 shares of the network equipment provider's stock after purchasing an additional 142,000 shares during the period. Adams Diversified Equity Fund Inc.'s holdings in Cisco Systems were worth $22,188,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new stake in Cisco Systems in the fourth quarter worth $26,000. Campbell Capital Management Inc. bought a new stake in shares of Cisco Systems during the 4th quarter valued at about $31,000. Highline Wealth Partners LLC increased its position 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 valued at $35,000 after buying an additional 260 shares during the period. Synergy Investment Management LLC bought a new position in Cisco Systems in the fourth quarter worth about $36,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in Cisco Systems during the 3rd quarter valued at approximately $40,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

Cisco Systems stock traded up $0.02 during mid-day trading on Tuesday, reaching $60.99. 20,875,770 shares of the stock traded hands, compared to its average volume of 18,012,449. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The business's 50-day moving average is $62.00 and its 200-day moving average is $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. The stock has a market capitalization of $242.64 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79.

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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 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%. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

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

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.69%. Cisco Systems's payout ratio is presently 71.62%.

Insider Transactions at Cisco Systems

In related news, CFO Richard Scott Herren sold 19,929 shares of the business'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 transaction, the chief financial officer now directly owns 335,605 shares in the company, valued at approximately $21,616,318.05. The trade was a 5.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 31,983 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 $2,060,025.03. Following the sale, the chief executive officer now owns 736,120 shares in the company, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,547 shares of company stock worth $4,275,553 in the last three months. Corporate insiders own 0.01% of the company's stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of research analyst reports. Melius Research upgraded Cisco Systems from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Wells Fargo & Company restated an "equal weight" rating on shares of Cisco Systems in a report on Thursday, March 6th. Piper Sandler reissued a "neutral" rating on shares of Cisco Systems in a research report on Thursday, March 6th. Rosenblatt Securities upgraded shares of Cisco Systems from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $66.00 to $80.00 in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. boosted their price target on Cisco Systems from $69.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $66.63.

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.