Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,126 shares of the network equipment provider’s stock after selling 1,288 shares during the period. Transcend Capital Advisors LLC’s holdings in Cisco Systems were worth $2,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC lifted its position in Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems during the third quarter valued at $40,000. Decker Retirement Planning Inc. acquired a new position in Cisco Systems during the fourth quarter valued at $49,000. Capital Performance Advisors LLP acquired a new position in shares of Cisco Systems in the third quarter worth about $51,000. Finally, FSA Wealth Management LLC acquired a new position in shares of Cisco Systems in the third quarter worth about $56,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Down 0.3 %

Shares of NASDAQ CSCO opened at $64.67 on Friday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The stock has a market cap of $257.28 billion, a PE ratio of 28.24, a P/E/G ratio of 4.17 and a beta of 0.84. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $60.55 and a 200 day moving average of $56.01.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a $0.41 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.54%. Cisco Systems’s dividend payout ratio is 69.87%.

Cisco Systems declared that its board has authorized a share buyback 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 buy up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of analyst reports. Piper Sandler upped their price objective on shares of Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Wells Fargo & Company upped their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. The Goldman Sachs Group upped their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Finally, DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.53.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 3,042 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the sale, the executive vice president now owns 207,798 shares of the company’s stock, valued at $12,299,563.62. This represents a 1.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the transaction, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,921 shares of company stock valued at $4,298,667 in the last 90 days. Company 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.