Mainstream Capital Management LLC Invests $132,000 in Cisco Systems, Inc. (NASDAQ:CSCO)

Mainstream Capital Management LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 2,232 shares of the network equipment provider’s stock, valued at approximately $132,000.

A number of other large investors have also modified their holdings of CSCO. Alley Investment Management Company LLC increased its holdings in Cisco Systems by 4.0% in the fourth quarter. Alley Investment Management Company LLC now owns 107,590 shares of the network equipment provider’s stock valued at $6,369,000 after buying an additional 4,159 shares during the last quarter. SWS Partners increased its holdings in Cisco Systems by 4.0% in the fourth quarter. SWS Partners now owns 27,951 shares of the network equipment provider’s stock valued at $1,655,000 after buying an additional 1,078 shares during the last quarter. Westover Capital Advisors LLC purchased a new position in Cisco Systems in the fourth quarter valued at $207,000. Exencial Wealth Advisors LLC increased its holdings in Cisco Systems by 0.6% in the fourth quarter. Exencial Wealth Advisors LLC now owns 37,401 shares of the network equipment provider’s stock valued at $2,214,000 after buying an additional 214 shares during the last quarter. Finally, Synergy Investment Management LLC purchased a new position in Cisco Systems in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on CSCO shares. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective for the company in a research note on Tuesday, January 28th. Citigroup upped their price objective on shares of Cisco Systems from $71.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Piper Sandler upped their price objective on shares of Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a research note 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 company a “neutral” rating in a research note on Thursday, February 13th. Finally, UBS Group upped their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the completion of the sale, the chief financial officer now directly owns 335,605 shares of the company’s stock, valued at $21,616,318.05. The trade was a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,848 shares of company stock valued at $4,767,206 in the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 1.0 %

Shares of Cisco Systems stock opened at $63.48 on Tuesday. 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 $61.32 and a two-hundred day moving average of $57.06. 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 $252.54 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.58%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

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

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.