Florida Financial Advisors LLC Buys 1,633 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Florida Financial Advisors LLC boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 34.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,328 shares of the network equipment provider’s stock after purchasing an additional 1,633 shares during the period. Florida Financial Advisors LLC’s holdings in Cisco Systems were worth $375,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Cisco Systems during the 4th quarter valued at about $560,722,000. FMR LLC grew its holdings in shares of Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after buying an additional 5,885,879 shares during the period. Two Sigma Advisers LP increased its holdings in shares of Cisco Systems by 327.5% in 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 acquiring an additional 5,223,800 shares in the last quarter. National Bank of Canada FI raised its holdings in Cisco Systems by 79.6% during the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after buying an additional 3,975,028 shares during the period. Finally, State Street Corp raised its holdings in shares of 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 acquiring an additional 3,241,682 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares in the company, valued at approximately $2,693,013.45. This represents a 1.70 % 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, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares in the company, valued at approximately $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 ninety days, insiders sold 66,547 shares of company stock valued at $4,275,553. Corporate insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CSCO. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. The Goldman Sachs Group raised their target price 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. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given 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 a consensus price target of $66.63.

Cisco Systems Trading Up 0.0 %

Shares of CSCO stock opened at $60.99 on Wednesday. The firm has a market capitalization of $242.64 billion, a P/E ratio of 26.63, a P/E/G ratio of 4.16 and a beta of 0.79. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The stock’s fifty day simple moving average is $62.03 and its 200 day simple moving average is $58.34. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month 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 for the quarter, missing the consensus estimate 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, sell-side 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 buyback plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. 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. This represents a $1.64 annualized dividend and a dividend yield of 2.69%. Cisco Systems’s dividend payout ratio is 71.62%.

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.