Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Rowlandmiller & PARTNERS.ADV

Rowlandmiller & PARTNERS.ADV grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 35.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,084 shares of the network equipment provider’s stock after purchasing an additional 805 shares during the period. Rowlandmiller & PARTNERS.ADV’s holdings in Cisco Systems were worth $183,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of CSCO. FMR LLC lifted its holdings in shares of Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after buying an additional 5,885,879 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Cisco Systems by 327.5% in the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after buying an additional 5,223,800 shares during the period. Pathway Financial Advisers LLC lifted its holdings in shares of Cisco Systems by 5,231.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock valued at $262,646,000 after buying an additional 4,842,542 shares during the period. National Bank of Canada FI lifted its holdings in shares of Cisco Systems by 79.6% in the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock valued at $477,463,000 after buying an additional 3,975,028 shares during the period. Finally, State Street Corp lifted its holdings in shares of Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after buying an additional 3,241,682 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity

In related news, CFO Richard Scott Herren sold 19,929 shares of the company’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 transaction, the chief financial officer now directly owns 335,605 shares in the company, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the transaction, the executive vice president now owns 207,798 shares in the company, valued at $12,299,563.62. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,921 shares of company stock worth $4,298,667 over the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CSCO. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Piper Sandler lifted their price target on Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $66.00 to $80.00 in a research note on Thursday, February 13th. Bank of America lifted their price target on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group lifted their price target on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus target price of $66.53.

Cisco Systems Price Performance

CSCO stock opened at $63.98 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The business has a 50 day simple moving average of $60.65 and a 200-day simple moving average of $56.30. The firm has a market capitalization of $254.53 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year 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 net margin of 16.96% and a return on equity of 26.08%. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its board has approved a share repurchase 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 repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a $0.41 dividend. The ex-dividend date is Thursday, April 3rd. 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 dividend yield of 2.56%. Cisco Systems’s dividend payout ratio is 69.87%.

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.