NewEdge Advisors LLC grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 422,861 shares of the network equipment provider's stock after buying an additional 25,069 shares during the period. NewEdge Advisors LLC's holdings in Cisco Systems were worth $25,033,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new position in Cisco Systems in the fourth quarter valued at $26,000. Runnymede Capital Advisors Inc. acquired a new position in shares of Cisco Systems during the fourth quarter valued at approximately $30,000. Campbell Capital Management Inc. purchased a new position in Cisco Systems in the 4th quarter valued at $31,000. Highline Wealth Partners LLC boosted its position in Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock worth $35,000 after acquiring an additional 260 shares during the last quarter. Finally, Synergy Investment Management LLC acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $36,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Cisco Systems
In other news, EVP Deborah L. Stahlkopf sold 11,808 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $64.37, for a total transaction of $760,080.96. Following the completion of the sale, the executive vice president now directly owns 200,191 shares in the company, valued at $12,886,294.67. This trade represents a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, the chief executive officer now owns 736,120 shares of the company's stock, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,547 shares of company stock valued at $4,275,553. Company insiders own 0.01% of the company's stock.
Analyst Ratings Changes
Several analysts have recently weighed in on CSCO shares. Wells Fargo & Company reissued an "equal weight" rating on shares of Cisco Systems in a research note on Thursday, March 6th. Citigroup decreased their price target on shares of Cisco Systems from $73.00 to $68.00 and set a "buy" rating for the company in a research report on Monday. Piper Sandler cut their price objective on Cisco Systems from $72.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Rosenblatt Securities upgraded Cisco Systems from a "neutral" rating to a "buy" rating and lifted their target price for the company from $66.00 to $80.00 in a report on Thursday, February 13th. Finally, StockNews.com downgraded Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average price target of $65.58.
Read Our Latest Stock Report on Cisco Systems
Cisco Systems Price Performance
CSCO stock traded down $0.04 during trading on Friday, reaching $55.73. 15,874,222 shares of the company were exchanged, compared to its average volume of 20,149,900. 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's 50 day moving average price is $60.69 and its 200 day moving average price is $59.08. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a market cap of $221.69 billion, a P/E ratio of 24.33, a PEG ratio of 4.16 and a beta of 0.86.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released 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 predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.
Cisco Systems announced that its board has initiated a stock buyback plan 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 purchase up to 6% of its shares through open market purchases. Shares buyback plans are often an indication that the company's management believes its stock is undervalued.
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 issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.94%. This is a boost 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 71.62%.
Cisco Systems Company Profile
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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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