PYA Waltman Capital LLC Grows Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

PYA Waltman Capital LLC raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 18,863 shares of the network equipment provider’s stock after purchasing an additional 346 shares during the period. PYA Waltman Capital LLC’s holdings in Cisco Systems were worth $1,117,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Highline Wealth Partners LLC grew its position in shares of Cisco Systems by 76.7% in 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 acquired a new position in shares of Cisco Systems during the 3rd quarter valued at about $40,000. Decker Retirement Planning Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter valued at about $49,000. Capital Performance Advisors LLP purchased a new position in Cisco Systems during the third quarter worth about $51,000. Finally, FSA Wealth Management LLC acquired a new position in Cisco Systems in the 3rd quarter valued at about $56,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on CSCO shares. The Goldman Sachs Group upped their price objective on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Piper Sandler boosted their price objective on shares of Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Bank of America increased their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.53.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The stock was 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 in the company, valued at $47,413,489.20. The trade was a 4.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 4,881 shares of the firm’s stock in a transaction 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 directly owns 51,931 shares of the company’s stock, valued at $3,101,838.63. The trade was a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,921 shares of company stock valued at $4,298,667 in the last quarter. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Trading Down 0.3 %

NASDAQ CSCO opened at $64.67 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The firm’s fifty day moving average is $60.55 and its two-hundred day moving average is $56.01. The firm has a market cap of $257.28 billion, a PE ratio of 28.24, a P/E/G ratio of 4.17 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results 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 net margin of 16.96% and a return on equity of 26.08%. Analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. 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 2.54%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is presently 69.87%.

Cisco Systems announced that its board has initiated a stock 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 buy up to 6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are 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.