First Foundation Advisors lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 14.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 106,442 shares of the network equipment provider's stock after selling 17,457 shares during the period. First Foundation Advisors' holdings in Cisco Systems were worth $6,301,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new stake in Cisco Systems during the 4th quarter worth about $26,000. Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems in the fourth quarter worth approximately $30,000. Campbell Capital Management Inc. bought a new position in shares of Cisco Systems during the 4th quarter worth approximately $31,000. Highline Wealth Partners LLC grew its position in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock worth $35,000 after buying an additional 260 shares during the period. Finally, Synergy Investment Management LLC bought a new stake in shares of Cisco Systems in the 4th quarter valued at $36,000. 73.33% of the stock is owned by institutional investors.
Cisco Systems Stock Performance
Cisco Systems stock traded up $0.07 during trading on Monday, hitting $57.40. The stock had a trading volume of 6,564,060 shares, compared to its average volume of 20,062,891. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The stock has a market cap of $228.35 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The stock's 50 day moving average is $61.30 and its two-hundred day moving average is $59.05.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data 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, analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.
Cisco Systems Increases Dividend
The company 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 $0.41 dividend. 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 2.86%. Cisco Systems's dividend payout ratio is currently 71.62%.
Cisco Systems declared that its board has initiated a stock repurchase program 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 purchase up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.
Analyst Ratings Changes
A number of equities research analysts have commented on CSCO shares. JPMorgan Chase & Co. raised their price target on shares of Cisco Systems from $69.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. BNP Paribas raised 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. Piper Sandler cut their price target on Cisco Systems from $72.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Melius upgraded Cisco Systems from a "hold" rating to a "buy" rating and boosted their price objective for the company from $66.00 to $73.00 in a report on Monday, January 6th. Finally, DZ Bank upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $66.00.
Check Out Our Latest Stock Report on Cisco Systems
Insider Buying and Selling
In other news, CFO Richard Scott Herren sold 19,929 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the sale, the chief financial officer now owns 335,605 shares in the company, valued at approximately $21,616,318.05. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was 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 owns 191,184 shares of the company's stock, valued at $11,604,868.80. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock worth $4,275,553 over the last ninety days. 0.01% of the stock is owned by corporate insiders.
About Cisco Systems
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Free Report)
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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