Mainstay Capital Management LLC ADV Boosts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Mainstay Capital Management LLC ADV lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 38,737 shares of the network equipment provider’s stock after buying an additional 262 shares during the quarter. Cisco Systems makes up approximately 0.3% of Mainstay Capital Management LLC ADV’s investment portfolio, making the stock its 23rd biggest holding. Mainstay Capital Management LLC ADV’s holdings in Cisco Systems were worth $2,293,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CSCO. FPC Investment Advisory Inc. bought a new position in shares of Cisco Systems during the fourth quarter valued at approximately $26,000. Highline Wealth Partners LLC boosted its stake in shares of Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems during the third quarter valued at approximately $40,000. Decker Retirement Planning Inc. bought a new position in shares of Cisco Systems during the fourth quarter valued at approximately $49,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Cisco Systems during the third quarter valued at approximately $51,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CSCO has been the subject of several recent analyst reports. Piper Sandler raised their target price on shares of Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Morgan Stanley raised their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. raised their target price on shares of Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a research note on Tuesday, January 28th. Finally, UBS Group raised their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.53.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 3,042 shares of Cisco Systems stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $59.19, for a total value of $180,055.98. Following the sale, the executive vice president now owns 207,798 shares in the company, valued at $12,299,563.62. This trade represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the completion of the sale, the senior vice president now owns 51,931 shares in the company, valued at approximately $3,101,838.63. This trade represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,921 shares of company stock valued at $4,298,667. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Down 1.1 %

CSCO opened at $63.98 on Monday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. 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 company has a fifty day moving average of $60.65 and a two-hundred day moving average of $56.30. The stock has a market capitalization of $254.53 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 4.16 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share 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 expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

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 issued a $0.41 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.56%. Cisco Systems’s payout ratio is presently 69.87%.

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

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.