Beacon Harbor Wealth Advisors Inc. Purchases 3,186 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Beacon Harbor Wealth Advisors Inc. boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,520 shares of the network equipment provider’s stock after buying an additional 3,186 shares during the quarter. Cisco Systems makes up approximately 1.8% of Beacon Harbor Wealth Advisors Inc.’s portfolio, making the stock its 15th biggest position. Beacon Harbor Wealth Advisors Inc.’s holdings in Cisco Systems were worth $7,668,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Morse Asset Management Inc acquired a new position in Cisco Systems during the 3rd quarter worth about $798,000. HighVista Strategies LLC acquired a new position in Cisco Systems during the 3rd quarter worth about $1,698,000. GAMMA Investing LLC lifted its holdings in Cisco Systems by 13.1% during the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after buying an additional 10,813 shares during the period. Oddo BHF Asset Management Sas acquired a new position in Cisco Systems during the 3rd quarter worth about $502,000. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in Cisco Systems by 10.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after buying an additional 162,544 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of recent analyst reports. Piper Sandler boosted their price objective on Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price objective on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Morgan Stanley boosted their price objective on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Barclays boosted their price objective on Cisco Systems from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.53.

Insider Activity

In related news, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the transaction, the senior vice president now owns 51,931 shares in the company, valued at approximately $3,101,838.63. This represents a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kristina M. Johnson sold 7,500 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the sale, the director now owns 65,915 shares in the company, valued at approximately $3,946,331.05. This represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,239 shares of company stock valued at $2,166,612 over the last three months. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO opened at $64.87 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock has a 50 day moving average price of $60.07 and a two-hundred day moving average price of $55.54. The firm has a market capitalization of $258.36 billion, a P/E ratio of 27.84, a P/E/G ratio of 4.63 and a beta of 0.84. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Equities analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders 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 dividend yield of 2.53%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Cisco Systems announced that its board has initiated a stock 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 reacquire up to 6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.