First Financial Bankshares Inc Has $58.70 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

First Financial Bankshares Inc lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 991,581 shares of the network equipment provider’s stock after buying an additional 4,504 shares during the quarter. Cisco Systems comprises approximately 1.3% of First Financial Bankshares Inc’s investment portfolio, making the stock its 26th largest holding. First Financial Bankshares Inc’s holdings in Cisco Systems were worth $58,702,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Campbell Capital Management Inc. acquired a new stake in Cisco Systems in the 4th quarter valued at $31,000. Highline Wealth Partners LLC grew its position 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 valued at $35,000 after purchasing an additional 260 shares during the period. Synergy Investment Management LLC acquired a new stake in Cisco Systems in the 4th quarter valued at $36,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Cisco Systems in the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Down 1.0 %

NASDAQ CSCO opened at $60.30 on Wednesday. The stock has a market capitalization of $239.89 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The business’s fifty day moving average is $61.86 and its 200-day moving average is $57.94.

Cisco Systems (NASDAQ:CSCO) last released its 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%. Equities research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors 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. This represents a $1.64 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is currently 71.62%.

Cisco Systems declared that its board has authorized a share buyback plan 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 plans are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Piper Sandler reissued a “neutral” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Rosenblatt Securities raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $66.00 to $80.00 in a research report on Thursday, February 13th. Finally, UBS Group lifted their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.63.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the sale, the senior vice president now directly owns 44,155 shares in the company, valued at approximately $2,693,013.45. The trade was a 1.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction dated 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. The trade was a 1.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,547 shares of company stock worth $4,275,553. Company insiders own 0.01% of the company’s stock.

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.