Anchor Investment Management LLC Has $3.28 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Anchor Investment Management LLC lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,370 shares of the network equipment provider’s stock after selling 845 shares during the quarter. Anchor Investment Management LLC’s holdings in Cisco Systems were worth $3,278,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. FPC Investment Advisory Inc. acquired a new position in Cisco Systems in the 4th quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. acquired a new position in shares of Cisco Systems in the fourth quarter worth $30,000. Campbell Capital Management Inc. purchased a new stake in shares of Cisco Systems during the fourth quarter worth $31,000. Highline Wealth Partners LLC boosted its position in Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares during the last quarter. Finally, Synergy Investment Management LLC purchased a new position in Cisco Systems in the fourth quarter valued at about $36,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CSCO shares. Morgan Stanley raised their price target on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. increased their price target on shares of Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Seven 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, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $65.74.

Cisco Systems Trading Up 0.1 %

Shares of Cisco Systems stock opened at $57.41 on Tuesday. The company has a market cap of $228.39 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 4.16 and a beta of 0.86. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The company’s fifty day simple moving average is $61.19 and its 200-day simple moving average is $59.08. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

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 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%. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

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 given a dividend of $0.41 per share. The ex-dividend date is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.86%. Cisco Systems’s payout ratio is currently 71.62%.

Cisco Systems announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the sale, the chief executive officer now owns 736,120 shares of the company’s stock, valued at $47,413,489.20. The trade was a 4.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction on 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 sale, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is currently owned by corporate insiders.

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.