Bank of Jackson Hole Trust Buys New Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Bank of Jackson Hole Trust bought a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 7,664 shares of the network equipment provider’s stock, valued at approximately $454,000.

Several other hedge funds have also recently added to or reduced their stakes in CSCO. Swedbank AB boosted its stake in Cisco Systems by 0.6% during the 3rd quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock valued at $480,555,000 after purchasing an additional 52,711 shares during the period. Wealth Effects LLC acquired a new position in Cisco Systems in the 3rd quarter valued at approximately $208,000. Horst & Graben Wealth Management LLC raised its holdings in Cisco Systems by 5.8% in the 3rd quarter. Horst & Graben Wealth Management LLC now owns 14,879 shares of the network equipment provider’s stock valued at $792,000 after acquiring an additional 819 shares in the last quarter. Waterway Wealth Management LLC raised its holdings in Cisco Systems by 15.6% in the 3rd quarter. Waterway Wealth Management LLC now owns 11,692 shares of the network equipment provider’s stock valued at $622,000 after acquiring an additional 1,578 shares in the last quarter. Finally, Integrity Financial Corp WA raised its holdings in Cisco Systems by 4.4% in the 3rd quarter. Integrity Financial Corp WA now owns 9,575 shares of the network equipment provider’s stock valued at $510,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 19,929 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $1,283,626.89. Following the transaction, the chief financial officer now directly owns 335,605 shares in the company, valued at $21,616,318.05. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now owns 736,120 shares in the company, valued at $47,413,489.20. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,921 shares of company stock worth $4,298,667. Insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 0.4 %

CSCO stock opened at $64.59 on Wednesday. The business has a fifty day moving average price of $60.31 and a 200 day moving average price of $55.89. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The stock has a market capitalization of $257.25 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 4.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data 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 net margin of 17.73% and a return on equity of 25.70%. Analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

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

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.54%. 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. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Wall Street Analyst Weigh In

Several research firms have commented on CSCO. Bank of America upped their price target on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. StockNews.com raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, February 14th. Piper Sandler upped their price target on Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Barclays increased their target price on Cisco Systems from $56.00 to $61.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Finally, Melius raised Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $66.00 to $73.00 in a report on Monday, January 6th. 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 company. According to data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $66.53.

Cisco Systems Company 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.