Sierra Ocean LLC Takes Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Sierra Ocean LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,333 shares of the network equipment provider’s stock, valued at approximately $138,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CSCO. Highline Wealth Partners LLC increased its holdings in shares of Cisco Systems by 76.7% during the fourth 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 in the last quarter. RPg Family Wealth Advisory LLC bought a new position in Cisco Systems during the third quarter worth $40,000. Decker Retirement Planning Inc. acquired a new position in Cisco Systems in the fourth quarter valued at $49,000. Capital Performance Advisors LLP bought a new stake in Cisco Systems in the third quarter worth approximately $51,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Cisco Systems during the 3rd quarter worth approximately $56,000. Institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In other Cisco Systems news, Director Kristina M. Johnson sold 7,500 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the completion of the sale, the director now owns 65,915 shares in the company, valued at approximately $3,946,331.05. This trade represents a 10.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the business’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 transaction, the executive vice president now directly owns 207,798 shares in the company, valued at $12,299,563.62. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,239 shares of company stock valued at $2,166,612 in the last quarter. Insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the subject of several research reports. Piper Sandler raised their target price on Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. raised their price objective on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a report on Tuesday, January 28th. Citigroup lifted their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Rosenblatt Securities upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $66.00 to $80.00 in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus price target of $66.53.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $64.87 on Monday. The firm has a market cap of $258.36 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 4.63 and a beta of 0.84. The company has a 50-day simple moving average of $60.07 and a two-hundred day simple moving average of $55.59. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. 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 the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. On average, equities analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems declared that its board has initiated a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders 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 represents a $1.64 annualized dividend and a yield of 2.53%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is presently 71.62%.

Cisco Systems Company 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.