Zevenbergen Capital Investments LLC Sells 260 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Zevenbergen Capital Investments LLC lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.6% during the fourth quarter, HoldingsChannel reports. The firm owned 15,725 shares of the network equipment provider’s stock after selling 260 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in Cisco Systems were worth $931,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems during the fourth quarter worth $26,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems in the 4th quarter valued at about $30,000. Campbell Capital Management Inc. bought a new stake in shares of Cisco Systems in the fourth quarter valued at about $31,000. Highline Wealth Partners LLC boosted its position 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 worth $35,000 after buying an additional 260 shares during the period. Finally, Synergy Investment Management LLC bought a new position in shares of Cisco Systems during the fourth quarter worth about $36,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $60.30 on Monday. The business has a fifty day moving average price of $61.95 and a two-hundred day moving average price of $58.17. The stock has a market capitalization of $239.89 billion, a PE ratio of 26.33, a P/E/G ratio of 4.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. 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 posted its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board 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. Investors of record on Thursday, April 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.72%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. This trade represents a 1.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the transaction, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock worth $4,275,553 over the last three months. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Piper Sandler reiterated a “neutral” rating on shares of Cisco Systems in a report on Thursday, March 6th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Morgan Stanley upped their price objective on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.63.

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.