Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Jmac Enterprises LLC

Jmac Enterprises LLC lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 13.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,851 shares of the network equipment provider's stock after selling 4,009 shares during the quarter. Jmac Enterprises LLC's holdings in Cisco Systems were worth $1,590,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Highline Wealth Partners LLC increased its holdings in shares of Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock valued at $35,000 after purchasing an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Cisco Systems in the third quarter valued at approximately $40,000. Decker Retirement Planning Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $49,000. Capital Performance Advisors LLP acquired a new stake in shares of Cisco Systems in the third quarter valued at approximately $51,000. Finally, FSA Wealth Management LLC acquired a new stake in Cisco Systems during the third quarter worth $56,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Wall Street Analyst Weigh In

CSCO has been the subject of several recent analyst reports. Barclays raised their target price on Cisco Systems from $56.00 to $61.00 and gave the stock an "equal weight" rating in a research note on Thursday. Piper Sandler raised their target price on Cisco Systems from $57.00 to $72.00 and gave the stock a "neutral" rating in a research note on Thursday. StockNews.com raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday. Rosenblatt Securities raised Cisco Systems from a "neutral" rating to a "buy" rating and raised their target price for the stock from $66.00 to $80.00 in a research note on Thursday. Finally, 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 note on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and a consensus price target of $66.53.

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Insiders Place Their Bets

In other news, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $59.87, for a total transaction of $449,025.00. Following the sale, the director now owns 65,915 shares in the company, valued at approximately $3,946,331.05. The trade was a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 3,042 shares of Cisco Systems stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the sale, the executive vice president now owns 207,798 shares in the company, valued at $12,299,563.62. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,239 shares of company stock valued at $2,166,612 in the last ninety days. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Up 1.6 %

NASDAQ:CSCO traded up $1.03 during midday trading on Friday, reaching $64.87. The company had a trading volume of 23,689,653 shares, compared to its average volume of 18,137,774. The firm has a market capitalization of $258.36 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 4.63 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The stock's fifty day simple moving average is $60.07 and its 200-day simple moving average is $55.54. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.53%. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems's payout ratio is 68.67%.

Cisco Systems announced that its board has approved a share buyback program 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 reacquire 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.

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.