Hemenway Trust Co LLC Increases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Hemenway Trust Co LLC increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 9.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,730 shares of the network equipment provider’s stock after purchasing an additional 502 shares during the period. Hemenway Trust Co LLC’s holdings in Cisco Systems were worth $339,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new stake in Cisco Systems during the 4th quarter worth approximately $132,000. GAMMA Investing LLC grew its position in shares of Cisco Systems by 13.1% during the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after purchasing an additional 10,813 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Cisco Systems by 76.4% in the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock worth $1,003,000 after purchasing an additional 7,338 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in shares of Cisco Systems in the third quarter worth $502,000. Finally, Nordea Investment Management AB boosted its stake in Cisco Systems by 1.2% during the fourth quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock valued at $1,107,930,000 after buying an additional 216,632 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 4.8 %

Shares of NASDAQ:CSCO opened at $54.54 on Friday. The stock’s 50-day moving average is $61.91 and its 200 day moving average is $58.81. The company has a market cap of $216.98 billion, a PE ratio of 23.82, a P/E/G ratio of 4.16 and a beta of 0.86. 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 posted its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.01%. Cisco Systems’s payout ratio is presently 71.62%.

Cisco Systems announced that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes 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 leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Melius upgraded 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 boosted their price target for the stock from $66.00 to $80.00 in a research note on Thursday, February 13th. StockNews.com lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 5th. Piper Sandler reiterated a “neutral” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Finally, BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a research report on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $66.63.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the 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 completion of the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $46,474.38. Following the sale, the senior vice president now directly owns 44,155 shares in the company, valued at $2,693,013.45. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock valued at $4,275,553 over the last three months. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems 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.