Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Wahed Invest LLC

Wahed Invest LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,686 shares of the network equipment provider’s stock after acquiring an additional 5,842 shares during the period. Cisco Systems makes up about 1.0% of Wahed Invest LLC’s investment portfolio, making the stock its 15th biggest position. Wahed Invest LLC’s holdings in Cisco Systems were worth $6,138,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. South Plains Financial Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth $425,000. Arrow Financial Corp increased its holdings in Cisco Systems by 1.2% during the 4th quarter. Arrow Financial Corp now owns 54,592 shares of the network equipment provider’s stock valued at $3,232,000 after acquiring an additional 666 shares in the last quarter. Cypress Advisory Group LLC acquired a new position in Cisco Systems during the fourth quarter worth about $1,617,000. Keel Point LLC lifted its holdings in shares of Cisco Systems by 7.6% in the fourth quarter. Keel Point LLC now owns 30,175 shares of the network equipment provider’s stock valued at $1,786,000 after purchasing an additional 2,135 shares in the last quarter. Finally, LGT Financial Advisors LLC grew its position in shares of Cisco Systems by 15,900.0% in the fourth quarter. LGT Financial Advisors LLC now owns 1,600 shares of the network equipment provider’s stock valued at $95,000 after purchasing an additional 1,590 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CSCO has been the subject of several research reports. Barclays restated an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Citigroup cut their price target on Cisco Systems from $73.00 to $68.00 and set a “buy” rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. decreased their price objective on Cisco Systems from $73.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. The Goldman Sachs Group lifted their price objective on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Seven equities research 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. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.05.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 31,983 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 transaction of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This represents a 4.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of the 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 sale, the chief financial officer now owns 335,605 shares of the company’s stock, 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. Insiders sold a total of 66,547 shares of company stock worth $4,275,553 over the last ninety days. 0.01% of the stock is owned by company insiders.

Cisco Systems Trading Up 0.7 %

CSCO stock opened at $58.12 on Friday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The company has a market cap of $231.22 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 4.16 and a beta of 0.86. 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 business has a fifty day simple moving average of $59.30 and a 200-day simple moving average of $59.29.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly 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%. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.82%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 3rd. Cisco Systems’s payout ratio is 71.62%.

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

About Cisco Systems

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.