4,260 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Bought by Pacific Point Advisors LLC

Pacific Point Advisors LLC purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 4,260 shares of the network equipment provider’s stock, valued at approximately $261,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. grew its stake in shares of Cisco Systems by 1.8% in the fourth quarter. Sunbelt Securities Inc. now owns 40,056 shares of the network equipment provider’s stock worth $2,371,000 after acquiring an additional 724 shares during the last quarter. Alpine Global Management LLC bought a new position in Cisco Systems in the fourth quarter valued at about $233,000. Breed s Hill Capital LLC bought a new position in Cisco Systems in the fourth quarter valued at about $219,000. Vise Technologies Inc. raised its stake in shares of Cisco Systems by 13.2% in the fourth quarter. Vise Technologies Inc. now owns 73,949 shares of the network equipment provider’s stock worth $4,378,000 after buying an additional 8,635 shares during the period. Finally, Retirement Planning Group LLC raised its stake in shares of Cisco Systems by 3.2% in the fourth quarter. Retirement Planning Group LLC now owns 12,496 shares of the network equipment provider’s stock worth $740,000 after buying an additional 393 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSCO has been the topic of several recent analyst reports. Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a research note on Wednesday. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective for the company in a report on Tuesday, January 28th. Barclays restated an “equal weight” rating on shares of Cisco Systems in a report on Wednesday. Piper Sandler lifted their target price on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Finally, The Goldman Sachs Group boosted their price target on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $68.00.

Cisco Systems Price Performance

NASDAQ CSCO opened at $63.36 on Friday. The business’s fifty day moving average is $59.00 and its two-hundred day moving average is $59.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The stock has a market capitalization of $252.06 billion, a P/E ratio of 27.67, a P/E/G ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same period in the prior year, the company posted $0.88 earnings per share. Cisco Systems’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.59%. Cisco Systems’s payout ratio is presently 66.94%.

Cisco Systems announced that its board has initiated 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 reacquire up to 6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Cisco Systems

In other news, insider Jeetendra I. Patel sold 9,961 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the sale, the insider now owns 257,162 shares of the company’s stock, valued at approximately $16,450,653.14. This represents a 3.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the transaction, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. The trade was a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,431 shares of company stock valued at $1,421,356 over the last three months. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Company 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.