Westfuller Advisors LLC Takes Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Westfuller Advisors LLC purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,665 shares of the network equipment provider’s stock, valued at approximately $217,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Peak Retirement Planning Inc. acquired a new position in Cisco Systems in the 4th quarter worth about $923,000. Invst LLC bought a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $224,000. GF Fund Management CO. LTD. acquired a new position in Cisco Systems in the fourth quarter worth approximately $44,685,000. Pinney & Scofield Inc. bought a new position in Cisco Systems during the fourth quarter valued at approximately $88,000. Finally, Parr Mcknight Wealth Management Group LLC acquired a new stake in Cisco Systems in the fourth quarter valued at approximately $8,343,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction 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 sale, the insider now owns 257,162 shares in the company, valued at $16,450,653.14. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction 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 owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,431 shares of company stock worth $1,421,356. Company insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CSCO shares. Barclays restated an “equal weight” rating on shares of Cisco Systems in a report on Wednesday. Wall Street Zen raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Piper Sandler increased their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Finally, New Street Research reaffirmed a “neutral” rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $63.11 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The company has a market cap of $251.07 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. The firm has a fifty day moving average price of $59.05 and a two-hundred day moving average price of $59.93. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter last year, the company earned $0.88 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. Analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems announced that its board has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s payout ratio is presently 66.94%.

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.