AlphaQuest LLC Has $2.03 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

AlphaQuest LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2,271.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,201 shares of the network equipment provider's stock after buying an additional 32,759 shares during the quarter. AlphaQuest LLC's holdings in Cisco Systems were worth $2,025,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $560,722,000. FMR LLC grew its stake in shares of Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider's stock valued at $3,402,432,000 after purchasing an additional 5,885,879 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of Cisco Systems by 327.5% during the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider's stock valued at $362,907,000 after purchasing an additional 5,223,800 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Cisco Systems by 79.6% during the third quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider's stock valued at $477,463,000 after purchasing an additional 3,975,028 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Cisco Systems by 1.7% during the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider's stock valued at $10,297,506,000 after purchasing an additional 3,241,682 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

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Cisco Systems Stock Up 0.8 %

Shares of NASDAQ:CSCO traded up $0.53 during midday trading on Friday, reaching $63.94. 21,153,303 shares of the company were exchanged, compared to its average volume of 20,042,023. The firm has a market cap of $254.37 billion, a PE ratio of 27.92, a P/E/G ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The stock has a fifty day simple moving average of $61.63 and a two-hundred day simple moving average of $57.44. 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 released its 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 net margin of 16.96% and a return on equity of 26.08%. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm 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 of this dividend is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.56%. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio (DPR) is 71.62%.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CSCO. Piper Sandler restated a "neutral" rating on shares of Cisco Systems in a report on Thursday. Melius Research upgraded shares of Cisco Systems from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Rosenblatt Securities upgraded shares of Cisco Systems from a "neutral" rating to a "buy" rating and increased their price objective for the company from $66.00 to $80.00 in a report on Thursday, February 13th. Melius upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and increased their price objective for the company from $66.00 to $73.00 in a report on Monday, January 6th. Finally, UBS Group increased their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and an average target price of $66.63.

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now owns 736,120 shares of the company's stock, valued at $47,413,489.20. This trade represents a 4.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 586 shares of Cisco Systems stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the transaction, the senior vice president now directly owns 50,767 shares of the company's stock, valued at approximately $2,979,515.23. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,348 shares of company stock valued at $4,318,181. Corporate insiders own 0.01% of the company's stock.

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.