Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Buckhead Capital Management LLC

Buckhead Capital Management LLC lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,246 shares of the network equipment provider’s stock after selling 579 shares during the period. Buckhead Capital Management LLC’s holdings in Cisco Systems were worth $429,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Intelligence Driven Advisers LLC acquired a new position in Cisco Systems in the 4th quarter worth about $247,000. Avestar Capital LLC raised its stake in shares of Cisco Systems by 11.4% during the 4th quarter. Avestar Capital LLC now owns 22,256 shares of the network equipment provider’s stock worth $1,318,000 after buying an additional 2,272 shares during the period. PrairieView Partners LLC raised its stake in shares of Cisco Systems by 19.5% during the 4th quarter. PrairieView Partners LLC now owns 3,994 shares of the network equipment provider’s stock worth $236,000 after buying an additional 651 shares during the period. TFC Financial Management Inc. lifted its position in shares of Cisco Systems by 42.8% during the 4th quarter. TFC Financial Management Inc. now owns 4,676 shares of the network equipment provider’s stock valued at $277,000 after buying an additional 1,402 shares in the last quarter. Finally, Stanley Laman Group Ltd. grew its stake in Cisco Systems by 17.8% in the 4th quarter. Stanley Laman Group Ltd. now owns 11,417 shares of the network equipment provider’s stock valued at $676,000 after acquiring an additional 1,722 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Up 2.1 %

Shares of CSCO opened at $63.84 on Friday. The company’s 50-day simple moving average is $59.89 and its 200-day simple moving average is $55.36. 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, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The stock has a market capitalization of $254.26 billion, a PE ratio of 27.40, a P/E/G ratio of 4.63 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors 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 yield of 2.57%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is presently 68.67%.

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

Analyst Ratings Changes

Several research firms have issued reports on CSCO. Morgan Stanley increased their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Piper Sandler raised their price target on shares of Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. increased their target price on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday. Barclays lifted their price target on Cisco Systems from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, UBS Group raised their price objective on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.53.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the transaction, the executive vice president now owns 213,834 shares in the company, valued at $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kristina M. Johnson sold 7,500 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $59.87, for a total transaction of $449,025.00. Following the completion of the sale, the director now directly owns 65,915 shares in the company, valued at approximately $3,946,331.05. This represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,239 shares of company stock worth $2,166,612 in the last quarter. 0.01% of the stock is owned by company 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.