MRP Capital Investments LLC Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

MRP Capital Investments LLC lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 15.4% during the 4th quarter, HoldingsChannel reports. The firm owned 2,200 shares of the network equipment provider’s stock after selling 400 shares during the period. MRP Capital Investments LLC’s holdings in Cisco Systems were worth $130,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new position in shares of Cisco Systems during the 4th quarter worth $26,000. Campbell Capital Management Inc. purchased a new position in shares of Cisco Systems during the 4th quarter valued at $31,000. Highline Wealth Partners LLC lifted its stake in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 260 shares in the last quarter. Synergy Investment Management LLC purchased a new position in shares of Cisco Systems during the 4th quarter valued at $36,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of Cisco Systems during the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In related news, CFO Richard Scott Herren sold 19,929 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 335,605 shares of the company’s stock, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,547 shares of company stock worth $4,275,553 over the last 90 days. 0.01% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on CSCO. Piper Sandler reiterated a “neutral” rating on shares of Cisco Systems in a report on Thursday, March 6th. StockNews.com downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 5th. Barclays restated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Finally, BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a report on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.63.

Cisco Systems Price Performance

Shares of CSCO opened at $60.62 on Friday. The company has a 50 day moving average price of $61.92 and a 200-day moving average price of $57.98. 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 $241.16 billion, a PE ratio of 26.47, a PEG ratio of 4.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS 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%. Equities analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its board has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a $0.41 dividend. 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 2.71%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is presently 71.62%.

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.