Runnymede Capital Advisors Inc. Buys Shares of 500 Cisco Systems, Inc. (NASDAQ:CSCO)

Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 500 shares of the network equipment provider’s stock, valued at approximately $30,000.

Other hedge funds 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 valued at $26,000. Campbell Capital Management Inc. acquired a new position in Cisco Systems during the 4th quarter worth about $31,000. Highline Wealth Partners LLC lifted its holdings in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after buying an additional 260 shares during the period. Synergy Investment Management LLC acquired a new position in Cisco Systems during the 4th quarter worth about $36,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems during the 3rd quarter worth about $40,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. The trade was a 1.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard Scott Herren sold 19,929 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $1,283,626.89. Following the completion of the transaction, the chief financial officer now owns 335,605 shares in the company, valued at $21,616,318.05. The trade was a 5.61 % 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

CSCO has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. UBS Group lifted their target price on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Finally, Piper Sandler reissued a “neutral” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.63.

Cisco Systems Stock Performance

Shares of CSCO opened at $60.30 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The stock has a 50 day moving average price of $61.95 and a two-hundred day moving average price of $58.11. The firm has a market capitalization of $239.89 billion, a P/E ratio of 26.33, a P/E/G ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week 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 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 analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This is a positive change 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 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.