12,898 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Acquired by Stevens Capital Management LP

Stevens Capital Management LP bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,898 shares of the network equipment provider's stock, valued at approximately $764,000.

Other large investors have also made changes to their positions in the company. Mainstream Capital Management LLC bought a new stake in Cisco Systems during the fourth quarter valued at approximately $132,000. Morse Asset Management Inc purchased a new position in shares of Cisco Systems during the 3rd quarter worth $798,000. HighVista Strategies LLC bought a new stake in shares of Cisco Systems during the 3rd quarter valued at $1,698,000. GAMMA Investing LLC increased its stake in shares of Cisco Systems by 13.1% in the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider's stock worth $5,527,000 after purchasing an additional 10,813 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in Cisco Systems by 76.4% in the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock worth $1,003,000 after purchasing an additional 7,338 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

NASDAQ:CSCO traded down $0.40 during trading hours on Thursday, reaching $61.40. The stock had a trading volume of 25,714,633 shares, compared to its average volume of 18,110,283. The stock has a market capitalization of $244.27 billion, a PE ratio of 26.81, a PEG ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The company has a 50 day moving average price of $62.10 and a two-hundred day moving average price of $58.38. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.

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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 (EPS) 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%. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a $0.41 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.67%. This is a positive change from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio (DPR) is currently 71.62%.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares of the company's stock, valued at $11,604,868.80. This represents a 1.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the firm'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 value of $46,474.38. Following the sale, the senior vice president now directly owns 44,155 shares of the company's stock, valued at $2,693,013.45. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. StockNews.com lowered Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 5th. Rosenblatt Securities upgraded Cisco Systems from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $66.00 to $80.00 in a research note on Thursday, February 13th. The Goldman Sachs Group raised their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Piper Sandler reiterated a "neutral" rating on shares of Cisco Systems in a research report on Thursday, March 6th. Finally, BNP Paribas upgraded shares of Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price objective on the stock in a research report on Tuesday, January 28th. Seven investment 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.63.

About Cisco Systems

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.