Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Kestra Investment Management LLC

Kestra Investment Management LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 18.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,373 shares of the network equipment provider's stock after purchasing an additional 5,525 shares during the period. Kestra Investment Management LLC's holdings in Cisco Systems were worth $2,094,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of 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 valued at $10,297,506,000 after acquiring an additional 3,241,682 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cisco Systems by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider's stock valued at $5,075,320,000 after acquiring an additional 1,262,017 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cisco Systems by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider's stock valued at $4,402,239,000 after acquiring an additional 1,677,383 shares during the last quarter. FMR LLC lifted its holdings in shares of Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider's stock valued at $3,402,432,000 after acquiring an additional 5,885,879 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Cisco Systems by 1.2% in the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider's stock valued at $1,107,930,000 after acquiring an additional 216,632 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Down 0.3 %

CSCO stock traded down $0.19 during trading on Friday, hitting $64.48. 5,332,500 shares of the company's stock traded hands, compared to its average volume of 19,353,736. The firm has a market capitalization of $256.51 billion, a P/E ratio of 28.18, a PEG ratio of 4.17 and a beta of 0.84. The business has a fifty day simple moving average of $60.55 and a two-hundred day simple moving average of $56.01. 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, 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 data 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%. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems announced that its Board of Directors has authorized a share repurchase plan 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 shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.54%. This is a positive change from Cisco Systems's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 71.62%.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total value of $291,542.13. Following the transaction, the senior vice president now directly owns 51,931 shares of the company's stock, valued at approximately $3,101,838.63. The trade was a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 31,983 shares of Cisco Systems 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 completion of the transaction, the chief executive officer now directly owns 736,120 shares in the company, valued at $47,413,489.20. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,921 shares of company stock valued at $4,298,667 over the last ninety days. 0.01% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on CSCO. Melius Research raised shares of Cisco Systems from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Bank of America raised their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Morgan Stanley raised their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Melius raised shares of Cisco Systems from a "hold" rating to a "buy" rating and raised their price objective for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Finally, Piper Sandler raised their price objective on shares of Cisco Systems from $57.00 to $72.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and a consensus price target of $66.53.

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.