Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,386 shares of the network equipment provider’s stock after selling 31,213 shares during the period. Concurrent Investment Advisors LLC’s holdings in Cisco Systems were worth $11,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advyzon Investment Management LLC acquired a new position in shares of Cisco Systems during the fourth quarter valued at about $549,000. Handelsbanken Fonder AB grew its position in Cisco Systems by 6.0% during the 4th quarter. Handelsbanken Fonder AB now owns 2,592,101 shares of the network equipment provider’s stock worth $153,452,000 after purchasing an additional 145,835 shares during the last quarter. Sunpointe LLC increased its stake in Cisco Systems by 66.2% during the 4th quarter. Sunpointe LLC now owns 9,076 shares of the network equipment provider’s stock valued at $537,000 after purchasing an additional 3,614 shares in the last quarter. LMG Wealth Partners LLC lifted its stake in shares of Cisco Systems by 1.1% during the fourth quarter. LMG Wealth Partners LLC now owns 37,570 shares of the network equipment provider’s stock worth $2,224,000 after buying an additional 412 shares during the period. Finally, Ieq Capital LLC grew its holdings in shares of Cisco Systems by 3.9% during the fourth quarter. Ieq Capital LLC now owns 269,517 shares of the network equipment provider’s stock valued at $15,955,000 after buying an additional 10,088 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Up 0.4 %

CSCO stock opened at $64.84 on Thursday. The stock has a market capitalization of $258.24 billion, a P/E ratio of 28.31, a PEG ratio of 4.55 and a beta of 0.84. 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, Inc. has a one year low of $44.50 and a one year high of $66.50. The company has a 50 day moving average price of $60.43 and a two-hundred day moving average price of $55.95.

Cisco Systems (NASDAQ:CSCO) last announced 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%. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.01 EPS for the current year.

Cisco Systems announced that its board has authorized a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm also recently announced 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 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. This represents a $1.64 annualized dividend and a dividend yield of 2.53%. Cisco Systems’s payout ratio is presently 69.87%.

Insider Activity at Cisco Systems

In related 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 transaction, the chief executive officer now owns 736,120 shares in the company, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the transaction, the senior vice president now owns 50,767 shares in the company, valued at $2,979,515.23. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,921 shares of company stock worth $4,298,667. 0.01% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CSCO shares. JPMorgan Chase & Co. raised their price objective on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Barclays raised their price objective on Cisco Systems from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 13th. Citigroup raised their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Piper Sandler raised their price objective on Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Morgan Stanley raised their price objective on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.