Edgemoor Investment Advisors Inc. Has $576,000 Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Edgemoor Investment Advisors Inc. cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,734 shares of the network equipment provider’s stock after selling 200 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in Cisco Systems were worth $576,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter valued at $26,000. Campbell Capital Management Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter valued at $31,000. Highline Wealth Partners LLC increased 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 worth $35,000 after purchasing an additional 260 shares during the period. Synergy Investment Management LLC acquired a new stake in Cisco Systems in the fourth quarter worth about $36,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Cisco Systems in the third quarter worth about $40,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Up 1.4 %

NASDAQ:CSCO opened at $60.50 on Monday. The firm has a market capitalization of $240.69 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The stock’s 50 day moving average price is $61.79 and its two-hundred day moving average price is $57.80. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly 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%. Equities research analysts expect 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 repurchase plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. 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 dividend yield of 2.71%. Cisco Systems’s payout ratio is presently 71.62%.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 31,983 shares of the business’s 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the completion of the transaction, the chief financial officer now directly owns 335,605 shares in the company, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their ownership of the stock. 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 insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CSCO. Piper Sandler reiterated a “neutral” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. UBS Group lifted their price objective on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $80.00 in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. raised their target price on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.