Insight 2811 Inc. Cuts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Insight 2811 Inc. reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,207 shares of the network equipment provider’s stock after selling 626 shares during the period. Cisco Systems makes up about 0.4% of Insight 2811 Inc.’s investment portfolio, making the stock its 27th biggest holding. Insight 2811 Inc.’s holdings in Cisco Systems were worth $841,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in CSCO. Massachusetts Financial Services Co. MA purchased a new position in Cisco Systems in the 3rd quarter valued at about $16,798,000. Larson Financial Group LLC increased its position in shares of Cisco Systems by 51.7% during the third quarter. Larson Financial Group LLC now owns 18,664 shares of the network equipment provider’s stock worth $993,000 after acquiring an additional 6,357 shares during the last quarter. Cahill Financial Advisors Inc. acquired a new position in shares of Cisco Systems in the third quarter worth about $243,000. Douglass Winthrop Advisors LLC boosted its holdings in Cisco Systems by 19.9% in the third quarter. Douglass Winthrop Advisors LLC now owns 19,939 shares of the network equipment provider’s stock valued at $1,061,000 after purchasing an additional 3,309 shares during the last quarter. Finally, Bank of Hawaii grew its stake in Cisco Systems by 0.5% during the 3rd quarter. Bank of Hawaii now owns 41,133 shares of the network equipment provider’s stock valued at $2,189,000 after purchasing an additional 190 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $60.97 on Tuesday. The business’s fifty day moving average price is $62.00 and its two-hundred day moving average price is $58.25. The firm has a market capitalization of $242.56 billion, a PE ratio of 26.62, a P/E/G ratio of 4.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data 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 26.08% and a net margin of 16.96%. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

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

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. 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 yield of 2.69%. Cisco Systems’s payout ratio is presently 71.62%.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at $11,604,868.80. This trade represents a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Charles Robbins sold 31,983 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 $2,060,025.03. Following the transaction, the chief executive officer now owns 736,120 shares in the company, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,547 shares of company stock valued at $4,275,553. Corporate insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Piper Sandler reiterated a “neutral” rating on shares of Cisco Systems in a research note on Thursday, March 6th. StockNews.com downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 5th. Wells Fargo & Company restated an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, UBS Group lifted their price target on Cisco Systems from $62.00 to $70.00 and gave the stock 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average price target of $66.63.

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.