Two Point Capital Management Inc. Sells 2,343 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Two Point Capital Management Inc. lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 170,533 shares of the network equipment provider’s stock after selling 2,343 shares during the quarter. Cisco Systems accounts for approximately 3.7% of Two Point Capital Management Inc.’s investment portfolio, making the stock its 14th biggest holding. Two Point Capital Management Inc.’s holdings in Cisco Systems were worth $10,408,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Morse Asset Management Inc bought a new position in shares of Cisco Systems during the 3rd quarter worth approximately $798,000. HighVista Strategies LLC bought a new stake in shares of Cisco Systems in the 3rd quarter worth approximately $1,698,000. GAMMA Investing LLC raised its holdings in shares of Cisco Systems by 13.1% in the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after purchasing an additional 10,813 shares during the period. Oddo BHF Asset Management Sas bought a new stake in shares of Cisco Systems in the 3rd quarter worth approximately $502,000. Finally, Commerzbank Aktiengesellschaft FI raised its holdings in shares of Cisco Systems by 10.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after purchasing an additional 162,544 shares during the period. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CSCO shares. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Citigroup lifted their price target on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, January 17th. UBS Group lifted their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Piper Sandler lifted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.72.

Cisco Systems Stock Up 0.2 %

Shares of NASDAQ:CSCO opened at $62.53 on Thursday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $63.25. The firm has a fifty day moving average of $59.84 and a 200 day moving average of $55.31. The firm has a market capitalization of $249.04 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 4.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. As a group, research analysts anticipate that Cisco Systems, Inc. will post 2.97 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. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.62%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is 68.67%.

Cisco Systems announced that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the completion of the transaction, the chief financial officer now directly owns 365,314 shares of the company’s stock, valued at $21,001,901.86. This represents a 19.12 % 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, CEO Charles Robbins sold 171,744 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 353,522 shares of company stock valued at $20,349,721. Insiders own 0.01% of the company’s stock.

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.