Dana Investment Advisors Inc. Buys 80,849 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Dana Investment Advisors Inc. lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 51.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 236,694 shares of the network equipment provider's stock after purchasing an additional 80,849 shares during the period. Dana Investment Advisors Inc.'s holdings in Cisco Systems were worth $14,012,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CSCO. FPC Investment Advisory Inc. bought a new position in Cisco Systems during the fourth quarter worth about $26,000. Highline Wealth Partners LLC lifted its holdings in 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 acquiring an additional 260 shares in the last quarter. Synergy Investment Management LLC bought a new position in Cisco Systems during the fourth quarter worth about $36,000. RPg Family Wealth Advisory LLC bought a new position in Cisco Systems during the third quarter worth about $40,000. Finally, Decker Retirement Planning Inc. bought a new position in Cisco Systems during the fourth quarter worth about $49,000. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Piper Sandler boosted their price target on Cisco Systems from $57.00 to $72.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Bank of America lifted their target price on Cisco Systems from $60.00 to $72.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. 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. Barclays boosted their price target on Cisco Systems from $56.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 13th. Finally, DZ Bank raised Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems presently has an average rating of "Moderate Buy" and an average price target of $66.63.

Cisco Systems Trading Up 1.1 %

Shares of CSCO stock opened at $63.96 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock has a market cap of $254.45 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. The stock has a 50 day simple moving average of $61.47 and a 200 day simple moving average of $57.20. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50.

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 (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%. On average, research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently announced 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 of this dividend 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 yield of 2.56%. Cisco Systems's dividend payout ratio is presently 71.62%.

Cisco Systems declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 11,808 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $64.37, for a total transaction of $760,080.96. Following the completion of the sale, the executive vice president now directly owns 200,191 shares in the company, valued at $12,886,294.67. This represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the company's stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,848 shares of company stock worth $4,767,206 over the last three months. Insiders own 0.01% of the company's stock.

About Cisco Systems

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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