Savvy Advisors Inc. lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 42.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,520 shares of the network equipment provider's stock after acquiring an additional 8,204 shares during the period. Savvy Advisors Inc.'s holdings in Cisco Systems were worth $1,629,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of CSCO. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems during the 4th quarter valued at $26,000. Runnymede Capital Advisors Inc. bought a new position in Cisco Systems in the 4th quarter valued at about $30,000. Campbell Capital Management Inc. bought a new position in Cisco Systems in the fourth quarter valued at about $31,000. Highline Wealth Partners LLC boosted its stake in shares of Cisco Systems by 76.7% during 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 in the last quarter. Finally, Synergy Investment Management LLC acquired a new stake in Cisco Systems during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 73.33% of the company's stock.
Insider Buying and Selling
In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the sale, the chief executive officer now owns 736,120 shares of the company's stock, valued at $47,413,489.20. The trade was a 4.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. This represents 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 valued at $4,275,553 over the last 90 days. Insiders own 0.01% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on CSCO shares. UBS Group lifted their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Melius upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and boosted their target price for the company from $66.00 to $73.00 in a research report on Monday, January 6th. DZ Bank raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. Wells Fargo & Company restated an "equal weight" rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, Melius Research raised shares of Cisco Systems from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.74.
Check Out Our Latest Analysis on Cisco Systems
Cisco Systems Stock Up 0.7 %
NASDAQ:CSCO traded up $0.40 during trading hours on Tuesday, reaching $57.81. The company's stock had a trading volume of 1,042,241 shares, compared to its average volume of 20,022,829. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The stock has a 50 day moving average price of $61.19 and a two-hundred day moving average price of $59.08. The company has a market capitalization of $229.99 billion, a P/E ratio of 25.23, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS 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%. Equities analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems announced that its board has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.
Cisco Systems Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. The ex-dividend date is Thursday, April 3rd. This is a positive change from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.84%. Cisco Systems's payout ratio is 71.62%.
Cisco Systems 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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