Savvy Advisors Inc. Has $1.63 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Savvy Advisors Inc. raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 42.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,520 shares of the network equipment provider’s stock after acquiring an additional 8,204 shares during the quarter. Savvy Advisors Inc.’s holdings in Cisco Systems were worth $1,629,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. FPC Investment Advisory Inc. bought a new stake in Cisco Systems in the fourth quarter worth $26,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Cisco Systems during the 4th quarter worth about $30,000. Campbell Capital Management Inc. bought a new stake in shares of Cisco Systems during the 4th quarter worth about $31,000. Highline Wealth Partners LLC increased its holdings in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 260 shares during the last quarter. Finally, Synergy Investment Management LLC bought a new position in shares of Cisco Systems in the 4th quarter valued at approximately $36,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Up 1.3 %

Shares of CSCO opened at $57.33 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $61.30 and a two-hundred day moving average price of $59.01. The stock has a market cap of $228.08 billion, a price-to-earnings ratio of 25.04, a P/E/G ratio of 4.16 and a beta of 0.86. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS 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 analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Cisco Systems Increases Dividend

The company 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 dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.86%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

Insider Activity at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 19,929 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $1,283,626.89. Following the transaction, the chief financial officer now owns 335,605 shares of the company’s stock, valued at approximately $21,616,318.05. The trade was a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the firm’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 $2,060,025.03. Following the completion of the sale, the chief executive officer now owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,547 shares of company stock valued at $4,275,553 in the last ninety days. Insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the topic of several analyst reports. StockNews.com downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 5th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Wells Fargo & Company restated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Piper Sandler dropped their price objective on Cisco Systems from $72.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Finally, The Goldman Sachs Group increased their target price on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.00.

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.