Ellevest Inc. Purchases 1,709 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Ellevest Inc. lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 32.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,947 shares of the network equipment provider’s stock after buying an additional 1,709 shares during the quarter. Ellevest Inc.’s holdings in Cisco Systems were worth $411,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. FPC Investment Advisory Inc. bought a new position in shares of Cisco Systems in the fourth quarter worth about $26,000. Navigoe LLC purchased a new stake in Cisco Systems during the 4th quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $30,000. Campbell Capital Management Inc. purchased a new position in shares of Cisco Systems in the fourth quarter worth $31,000. Finally, Highline Wealth Partners LLC boosted its position in shares of Cisco Systems by 76.7% during 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 during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares in the company, valued at $2,693,013.45. This represents a 1.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at $11,604,868.80. The trade was a 1.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,547 shares of company stock valued at $4,275,553. 0.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on CSCO. The Goldman Sachs Group boosted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target for the company in a research note on Tuesday, January 28th. Piper Sandler reduced 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. Wells Fargo & Company reiterated an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Finally, DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Seven investment 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $65.05.

Cisco Systems Trading Up 0.1 %

NASDAQ CSCO opened at $59.77 on Friday. The stock has a market cap of $237.78 billion, a PE ratio of 26.10, a PEG ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The company’s 50-day moving average price is $58.78 and its 200-day moving average price is $59.43. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results 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 return on equity of 26.08% and a net margin of 16.96%. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock buyback programs are generally a sign 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 was paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.74%. 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 dividend payout ratio is currently 71.62%.

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.