700 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Acquired by Investment Counsel Co. of Nevada

Investment Counsel Co. of Nevada bought a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 700 shares of the network equipment provider’s stock, valued at approximately $41,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new stake in shares of Cisco Systems during the 4th quarter valued at $26,000. Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems during the 4th quarter valued at about $30,000. Campbell Capital Management Inc. purchased a new stake in Cisco Systems in the fourth quarter valued at about $31,000. Highline Wealth Partners LLC boosted its holdings 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 acquiring an additional 260 shares in the last quarter. Finally, Synergy Investment Management LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup reissued an “overweight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. StockNews.com lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 5th. Piper Sandler dropped their price objective on shares of Cisco Systems from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group raised their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.00.

Cisco Systems Stock Up 1.3 %

CSCO opened at $57.33 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The company has a market cap of $228.08 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 4.16 and a beta of 0.86. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The business’s fifty day moving average is $61.30 and its two-hundred day moving average is $59.05.

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 net margin of 16.96% and a return on equity of 26.08%. Analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. 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. This represents a $1.64 annualized dividend and a dividend yield of 2.86%. Cisco Systems’s dividend payout ratio is presently 71.62%.

Cisco Systems declared that its board has approved a share repurchase program 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 repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the sale, the executive vice president now owns 191,184 shares of the company’s stock, valued at $11,604,868.80. The trade was a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. This trade represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,547 shares of company stock valued at $4,275,553. Company 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.