Millstone Evans Group LLC Invests $623,000 in Cisco Systems, Inc. (NASDAQ:CSCO)

Millstone Evans Group LLC bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,516 shares of the network equipment provider's stock, valued at approximately $623,000.

Several other institutional investors have also recently made changes to their positions in the business. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $26,000. Campbell Capital Management Inc. purchased a new position in Cisco Systems during the fourth quarter valued at $31,000. Highline Wealth Partners LLC increased its holdings in Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock valued at $35,000 after acquiring an additional 260 shares during the last quarter. Synergy Investment Management LLC purchased a new stake in Cisco Systems in the 4th quarter worth $36,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems during the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. This trade represents a 1.07 % 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, SVP Maria Victoria Wong sold 762 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the transaction, the senior vice president now directly owns 44,155 shares of the company's stock, valued at $2,693,013.45. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,547 shares of company stock worth $4,275,553 in the last ninety days. 0.01% of the stock is owned by company insiders.

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Analyst Upgrades and Downgrades

CSCO has been the topic of several research reports. DZ Bank raised Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Piper Sandler reaffirmed a "neutral" rating on shares of Cisco Systems in a research note on Thursday, March 6th. The Goldman Sachs Group increased their target price on Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. StockNews.com cut shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 5th. Finally, Rosenblatt Securities upgraded shares of Cisco Systems from a "neutral" rating to a "buy" rating and increased their price objective for the company from $66.00 to $80.00 in a research report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems has a consensus rating of "Moderate Buy" and an average target price of $66.63.

Cisco Systems Trading Up 1.3 %

CSCO stock traded up $0.81 during midday trading on Wednesday, reaching $61.80. The company's stock had a trading volume of 30,617,380 shares, compared to its average volume of 18,061,991. The firm has a market capitalization of $245.86 billion, a price-to-earnings ratio of 26.99, a PEG 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 debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The stock has a fifty day simple moving average of $62.03 and a two-hundred day simple moving average of $58.34.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data 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 net margin of 16.96% and a return on equity of 26.08%. On average, equities research analysts predict 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 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 repurchase up to 6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors 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 represents a $1.64 annualized dividend and a yield of 2.65%. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio is 71.62%.

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.