Heritage Wealth Management Inc. CA Purchases 4,110 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Heritage Wealth Management Inc. CA grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 121.2% during the fourth quarter, Holdings Channel reports. The fund owned 7,502 shares of the network equipment provider’s stock after purchasing an additional 4,110 shares during the period. Heritage Wealth Management Inc. CA’s holdings in Cisco Systems were worth $444,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CSCO. Pflug Koory LLC lifted its stake in shares of Cisco Systems by 0.5% during the 4th quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock worth $1,955,000 after acquiring an additional 165 shares during the last quarter. Fairhaven Wealth Management LLC increased its stake in Cisco Systems by 2.3% in the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock worth $449,000 after purchasing an additional 167 shares during the period. BlackDiamond Wealth Management LLC increased its stake in Cisco Systems by 3.1% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock worth $335,000 after purchasing an additional 168 shares during the period. Maple Capital Management Inc. lifted its position in shares of Cisco Systems by 1.4% during the fourth quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock worth $709,000 after purchasing an additional 170 shares during the last quarter. Finally, Pathway Financial Advisors LLC boosted its stake in shares of Cisco Systems by 3.1% during the fourth quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock valued at $343,000 after purchasing an additional 172 shares during the period. Institutional investors own 73.33% of the company’s stock.

Insider Activity

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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard Scott Herren sold 19,929 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the transaction, the chief financial officer now owns 335,605 shares in the company, 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. Insiders sold a total of 66,547 shares of company stock valued at $4,275,553 in the last three months. 0.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. UBS Group raised their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Piper Sandler reiterated a “neutral” rating on shares of Cisco Systems in a report on Thursday, March 6th. Citigroup reissued an “overweight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Cisco Systems Trading Up 1.1 %

Shares of Cisco Systems stock opened at $60.97 on Tuesday. The firm has a market capitalization of $242.56 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 4.16 and a beta of 0.79. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm’s 50 day simple moving average is $62.00 and its two-hundred day simple moving average is $58.25. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50.

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

Cisco Systems declared that its board 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 purchase up to 6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is 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 paid a dividend of $0.41 per share. This is a boost 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 2.69%. Cisco Systems’s dividend payout ratio (DPR) is presently 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.