Glass Wealth Management Co LLC Buys 229 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Glass Wealth Management Co LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,905 shares of the network equipment provider’s stock after acquiring an additional 229 shares during the quarter. Glass Wealth Management Co LLC’s holdings in Cisco Systems were worth $1,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in CSCO. FMR LLC grew its stake in Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after purchasing an additional 5,885,879 shares during the period. Two Sigma Advisers LP grew its stake in Cisco Systems by 327.5% during the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock worth $362,907,000 after purchasing an additional 5,223,800 shares during the period. National Bank of Canada FI grew its stake in Cisco Systems by 79.6% during the third quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after purchasing an additional 3,975,028 shares during the period. State Street Corp grew its stake in Cisco Systems by 1.7% during the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after purchasing an additional 3,241,682 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Cisco Systems by 87.9% during the third quarter. The Manufacturers Life Insurance Company now owns 5,541,607 shares of the network equipment provider’s stock worth $294,923,000 after purchasing an additional 2,591,684 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. StockNews.com cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. BNP Paribas raised 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. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Piper Sandler raised their price objective on Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. 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 research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $63.26 on Wednesday. The business’s fifty day simple moving average is $61.39 and its 200 day simple moving average is $57.16. The firm has a market capitalization of $251.67 billion, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS 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%. As a group, analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.59%. Cisco Systems’s payout ratio is presently 71.62%.

Cisco Systems announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the sale, the chief executive officer now directly owns 736,120 shares in the company, valued at $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kristina M. Johnson sold 7,500 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the completion of the sale, the director now owns 65,915 shares in the company, valued at approximately $3,946,331.05. The trade was 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 74,848 shares of company stock worth $4,767,206 over the last ninety days. 0.01% of the stock is currently 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.