Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Beta Wealth Group Inc.

Beta Wealth Group Inc. lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,319 shares of the network equipment provider’s stock after acquiring an additional 200 shares during the period. Beta Wealth Group Inc.’s holdings in Cisco Systems were worth $552,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC lifted its holdings in shares of Cisco Systems by 57.7% in the third quarter. Exchange Traded Concepts LLC now owns 5,126 shares of the network equipment provider’s stock valued at $273,000 after buying an additional 1,876 shares during the period. Swedbank AB lifted its holdings in Cisco Systems by 0.6% in the 3rd quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock valued at $480,555,000 after acquiring an additional 52,711 shares during the last quarter. AA Financial Advisors LLC bought a new position in shares of Cisco Systems during the 3rd quarter valued at about $213,000. Brown Lisle Cummings Inc. grew its stake in shares of Cisco Systems by 2.2% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 21,554 shares of the network equipment provider’s stock worth $1,147,000 after purchasing an additional 456 shares during the last quarter. Finally, Penn Davis Mcfarland Inc. bought a new stake in shares of Cisco Systems in the 3rd quarter worth approximately $1,117,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Trading Up 1.6 %

NASDAQ:CSCO opened at $64.87 on Tuesday. The company has a market capitalization of $258.36 billion, a P/E ratio of 27.84, a P/E/G ratio of 4.63 and a beta of 0.84. The stock’s 50 day moving average price is $60.07 and its 200 day moving average price is $55.64. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last released 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 17.73% and a return on equity of 25.70%. On average, research analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders 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. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.53%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Cisco Systems announced that its board has initiated a share buyback plan 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. Piper Sandler boosted their target price on Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. UBS Group lifted their price target on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Bank of America upped their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Barclays lifted their target price on shares of Cisco Systems from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.53.

Insider Activity at Cisco Systems

In other news, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the transaction, the director now owns 65,915 shares of the company’s stock, valued at $3,946,331.05. This trade represents a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the sale, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,239 shares of company stock valued at $2,166,612. Corporate insiders own 0.01% of the company’s stock.

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.