MONECO Advisors LLC Has $3.43 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

MONECO Advisors LLC increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 316.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 57,931 shares of the network equipment provider’s stock after purchasing an additional 44,020 shares during the quarter. MONECO Advisors LLC’s holdings in Cisco Systems were worth $3,430,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new stake in Cisco Systems in the 4th quarter worth approximately $26,000. Highline Wealth Partners LLC lifted its holdings in Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems during the third quarter worth approximately $40,000. Decker Retirement Planning Inc. acquired a new position in shares of Cisco Systems during the fourth quarter worth approximately $49,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Cisco Systems during the third quarter worth approximately $51,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO opened at $63.98 on Friday. The business’s fifty day moving average price is $60.65 and its two-hundred day moving average price is $56.22. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The stock has a market capitalization of $254.53 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84. 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 (NASDAQ:CSCO) last announced its quarterly earnings results 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 net margin of 16.96% and a return on equity of 26.08%. As a group, analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

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

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is presently 69.87%.

Insider Transactions at Cisco Systems

In other news, Director Kristina M. Johnson sold 7,500 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $59.87, for a total transaction of $449,025.00. Following the sale, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total value of $291,542.13. Following the transaction, the senior vice president now directly owns 51,931 shares in the company, valued at $3,101,838.63. This trade represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,921 shares of company stock worth $4,298,667. Insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CSCO. UBS Group upped their price target on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. upped their price target on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Citigroup upped their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Barclays upped their price target on Cisco Systems from $56.00 to $61.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Finally, Piper Sandler upped their price target on Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $66.53.

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.