Fjell Capital LLC Acquires New Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Fjell Capital LLC bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,607 shares of the network equipment provider’s stock, valued at approximately $214,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CSCO. FPC Investment Advisory Inc. acquired a new position in Cisco Systems in the fourth quarter valued at approximately $26,000. Highline Wealth Partners LLC raised its position in 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 during the period. RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems in the 3rd quarter valued at $40,000. Decker Retirement Planning Inc. purchased a new position in shares of Cisco Systems during the 4th quarter worth $49,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Cisco Systems during the 3rd quarter worth about $51,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Up 1.6 %

Shares of NASDAQ CSCO opened at $64.27 on Wednesday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The company has a market capitalization of $255.68 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The business has a 50-day moving average of $60.87 and a two-hundred day moving average of $56.56.

Cisco Systems (NASDAQ:CSCO) last posted 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 return on equity of 26.08% and a net margin of 16.96%. On average, analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.55%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

Cisco Systems declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. StockNews.com lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday. 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. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Morgan Stanley lifted 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, Bank of America increased their target price on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Seven 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. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.53.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the sale, the senior vice president now owns 50,767 shares in the company, valued at $2,979,515.23. This represents a 1.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,848 shares of company stock valued at $4,767,206 over the last ninety days. Insiders own 0.01% of the company’s stock.

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.