First Financial Bankshares Inc Has $58.70 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

First Financial Bankshares Inc grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 991,581 shares of the network equipment provider's stock after purchasing an additional 4,504 shares during the quarter. Cisco Systems makes up 1.3% of First Financial Bankshares Inc's portfolio, making the stock its 26th largest holding. First Financial Bankshares Inc's holdings in Cisco Systems were worth $58,702,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Cisco Systems in the 4th quarter worth approximately $560,722,000. FMR LLC grew its holdings in Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider's stock worth $3,402,432,000 after buying an additional 5,885,879 shares in the last quarter. Two Sigma Advisers LP grew its holdings in Cisco Systems by 327.5% in the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider's stock worth $362,907,000 after buying an additional 5,223,800 shares in the last quarter. National Bank of Canada FI grew its holdings in Cisco Systems by 79.6% in the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider's stock worth $477,463,000 after buying an additional 3,975,028 shares in the last quarter. Finally, State Street Corp grew its holdings in Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider's stock worth $10,297,506,000 after buying an additional 3,241,682 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

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Cisco Systems Stock Down 0.5 %

Shares of CSCO traded down $0.32 during mid-day trading on Friday, reaching $60.30. The company's stock had a trading volume of 65,885,624 shares, compared to its average volume of 18,008,743. The business has a fifty day moving average of $61.95 and a 200 day moving average of $58.11. The company has a market cap of $239.89 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. 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 posted its quarterly 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 return on equity of 26.08% and a net margin of 16.96%. As a group, analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a $0.41 dividend. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.72%. Cisco Systems's dividend payout ratio is 71.62%.

Cisco Systems declared that its board has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CSCO. Wells Fargo & Company restated an "equal weight" rating on shares of Cisco Systems in a research report on Thursday, March 6th. The Goldman Sachs Group upped their target price on Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Barclays restated an "equal weight" rating on shares of Cisco Systems in a research report on Thursday, March 6th. BNP Paribas upgraded Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 target price for the company in a research report on Tuesday, January 28th. Finally, Piper Sandler restated a "neutral" rating on shares of Cisco Systems in a research report on Thursday, March 6th. Seven equities research 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $66.63.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares of the company's stock, valued at $2,693,013.45. This represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the 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 directly owns 736,120 shares in the company, valued at $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,547 shares of company stock valued at $4,275,553. 0.01% of the stock is owned by insiders.

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.