Summitry LLC Raises Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Summitry LLC raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,019 shares of the network equipment provider’s stock after acquiring an additional 3,598 shares during the period. Summitry LLC’s holdings in Cisco Systems were worth $5,566,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. FPC Investment Advisory Inc. acquired a new position in Cisco Systems during the 4th quarter valued at about $26,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $30,000. Campbell Capital Management Inc. acquired a new position in shares of Cisco Systems during the fourth quarter valued at about $31,000. Highline Wealth Partners LLC raised its position in shares of Cisco Systems by 76.7% in the 4th 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 during the last quarter. Finally, Synergy Investment Management LLC acquired a new stake in Cisco Systems in the 4th quarter worth approximately $36,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This trade represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Richard Scott Herren sold 19,929 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the sale, the chief financial officer now directly owns 335,605 shares of the company’s stock, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,547 shares of company stock valued at $4,275,553. 0.01% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of research analyst reports. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Tuesday, January 28th. UBS Group lifted their price target on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Piper Sandler reaffirmed a “neutral” rating on shares of Cisco Systems in a report on Thursday, March 6th. Finally, Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $66.63.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $60.99 on Wednesday. The company has a market capitalization of $242.64 billion, a P/E ratio of 26.63, a P/E/G ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The business’s 50 day moving average is $62.03 and its two-hundred day moving average is $58.34. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results 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%. Analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its board has approved a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 2.69%. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

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.