Centricity Wealth Management LLC Buys Shares of 3,130 Cisco Systems, Inc. (NASDAQ:CSCO)

Centricity Wealth Management LLC purchased a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 3,130 shares of the network equipment provider’s stock, valued at approximately $185,000.

A number of other large investors also recently bought and sold shares of the business. Waterfront Wealth Inc. boosted its stake in shares of Cisco Systems by 5.3% during the fourth quarter. Waterfront Wealth Inc. now owns 26,361 shares of the network equipment provider’s stock valued at $1,561,000 after purchasing an additional 1,335 shares during the period. FDx Advisors Inc. increased its position in Cisco Systems by 26.8% during the 4th quarter. FDx Advisors Inc. now owns 9,096 shares of the network equipment provider’s stock valued at $538,000 after purchasing an additional 1,921 shares during the period. Nicholson Wealth Management Group LLC raised its holdings in shares of Cisco Systems by 84.4% in the 4th quarter. Nicholson Wealth Management Group LLC now owns 27,034 shares of the network equipment provider’s stock valued at $1,600,000 after purchasing an additional 12,375 shares in the last quarter. Tandem Investment Advisors Inc. purchased a new stake in shares of Cisco Systems in the 4th quarter worth approximately $204,000. Finally, Boston Financial Mangement LLC increased its holdings in Cisco Systems by 3.5% during the fourth quarter. Boston Financial Mangement LLC now owns 67,514 shares of the network equipment provider’s stock valued at $3,997,000 after buying an additional 2,253 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In related news, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the completion of the transaction, the director now owns 65,915 shares in the company, valued at approximately $3,946,331.05. The trade was a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction that occurred 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 sale, the senior vice president now owns 50,767 shares in the company, valued at approximately $2,979,515.23. This trade represents a 1.14 % 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. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $64.67 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The business’s 50 day moving average price is $60.55 and its 200 day moving average price is $56.01. The company has a market cap of $257.57 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 4.16 and a beta of 0.84. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50.

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 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%. On average, research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its board has approved a stock repurchase 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 reacquire up to 6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm also recently announced 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. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.54%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is currently 69.87%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CSCO shares. Barclays lifted their price target on Cisco Systems from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Thursday, February 13th. Piper Sandler lifted their price target on shares of Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. The Goldman Sachs Group upped their target price on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Citigroup raised their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.53.

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.