Victrix Investment Advisors Invests $3.66 Million in Cisco Systems, Inc. (NASDAQ:CSCO)

Victrix Investment Advisors purchased a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 61,830 shares of the network equipment provider’s stock, valued at approximately $3,660,000. Cisco Systems comprises 2.6% of Victrix Investment Advisors’ holdings, making the stock its 12th biggest holding.

Several other institutional investors have also added to or reduced their stakes in CSCO. Pflug Koory LLC raised its stake in shares of Cisco Systems by 0.5% during the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock valued at $1,955,000 after acquiring an additional 165 shares during the last quarter. Glass Jacobson Investment Advisors llc increased its holdings in Cisco Systems by 8.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock valued at $123,000 after purchasing an additional 166 shares during the period. Fairhaven Wealth Management LLC raised its position in Cisco Systems by 2.3% during the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock valued at $449,000 after purchasing an additional 167 shares during the last quarter. BlackDiamond Wealth Management LLC lifted its holdings in Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock worth $335,000 after buying an additional 168 shares during the period. Finally, Maple Capital Management Inc. grew its position in shares of Cisco Systems by 1.4% in the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock worth $709,000 after buying an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $63.62 on Monday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The firm’s 50-day moving average is $58.75 and its 200 day moving average is $59.72. The stock has a market cap of $253.10 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 4.16 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same period in the previous year, the company earned $0.88 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its board has authorized a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.58%. Cisco Systems’s dividend payout ratio (DPR) is presently 71.62%.

Insider Buying and Selling at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 11,808 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $64.37, for a total transaction of $760,080.96. Following the transaction, the executive vice president now directly owns 200,191 shares of the company’s stock, valued at $12,886,294.67. This represents a 5.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction on 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 in the company, valued at $11,604,868.80. This trade represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,635 shares of company stock worth $931,901. Insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CSCO. Rosenblatt Securities boosted their target price on Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday. New Street Research restated a “neutral” rating and issued a $70.00 price objective on shares of Cisco Systems in a report on Friday. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a research note on Tuesday, January 28th. Finally, Piper Sandler increased their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.00.

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.