Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by JLB & Associates Inc.

JLB & Associates Inc. lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 34,357 shares of the network equipment provider’s stock after selling 357 shares during the quarter. JLB & Associates Inc.’s holdings in Cisco Systems were worth $2,034,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CSCO. Pflug Koory LLC increased its stake in shares of Cisco Systems by 0.5% during the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock worth $1,955,000 after purchasing an additional 165 shares in the last quarter. Pathway Financial Advisors LLC lifted its stake in Cisco Systems by 3.1% in the 4th quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock valued at $343,000 after buying an additional 172 shares in the last quarter. Beaumont Financial Advisors LLC boosted its holdings in Cisco Systems by 1.7% in the 4th quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider’s stock worth $627,000 after buying an additional 173 shares during the last quarter. SeaCrest Wealth Management LLC increased its stake in Cisco Systems by 0.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider’s stock worth $1,879,000 after buying an additional 178 shares in the last quarter. Finally, Aviso Wealth Management raised its holdings in shares of Cisco Systems by 2.4% during the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock valued at $405,000 after acquiring an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CSCO shares. Barclays lifted their price target on Cisco Systems from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 13th. Rosenblatt Securities raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $80.00 in a research note on Thursday, February 13th. Morgan Stanley increased their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler boosted their price target on shares of Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, StockNews.com raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.53.

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 31,983 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the sale, the chief executive officer now owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the completion of the transaction, the chief financial officer now owns 335,605 shares of the company’s stock, valued at $21,616,318.05. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,921 shares of company stock worth $4,298,667. Insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $64.67 on Friday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The stock’s fifty day moving average is $60.55 and its two-hundred day moving average is $56.01. The company has a market capitalization of $257.57 billion, a P/E ratio of 28.24, a P/E/G ratio of 4.16 and a beta of 0.84. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.

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 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%. Equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors 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 represents a $1.64 dividend on an annualized basis and a dividend yield of 2.54%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is presently 69.87%.

Cisco Systems announced that its Board of Directors has initiated a stock repurchase plan 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 repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.