Intact Investment Management Inc. Sells 19,230 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Intact Investment Management Inc. decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 306,000 shares of the network equipment provider’s stock after selling 19,230 shares during the quarter. Intact Investment Management Inc.’s holdings in Cisco Systems were worth $18,115,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Mainstream Capital Management LLC acquired a new stake in shares of Cisco Systems during the 4th quarter valued at about $132,000. Morse Asset Management Inc acquired a new stake in shares of Cisco Systems during the 3rd quarter valued at about $798,000. HighVista Strategies LLC acquired a new position in Cisco Systems in the third quarter valued at about $1,698,000. GAMMA Investing LLC boosted its position in Cisco Systems by 13.1% in the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after buying an additional 10,813 shares in the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new position in Cisco Systems in the third quarter valued at about $502,000. Institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the sale, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now owns 191,184 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 66,547 shares of company stock worth $4,275,553. Company insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 1.3 %

CSCO opened at $59.67 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The company has a market cap of $237.38 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. The firm has a 50 day simple moving average of $61.75 and a 200 day simple moving average of $57.63. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 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%. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be issued a $0.41 dividend. The ex-dividend date is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.75%. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

Analyst Ratings Changes

CSCO has been the topic of a number of recent analyst reports. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $66.00 to $73.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. boosted their price target on shares of Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Piper Sandler restated a “neutral” rating on shares of Cisco Systems in a research report on Thursday, March 6th. DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $66.63.

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.