Proficio Capital Partners LLC Has $59.39 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Proficio Capital Partners LLC raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 10,340.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,003,235 shares of the network equipment provider’s stock after acquiring an additional 993,626 shares during the quarter. Proficio Capital Partners LLC’s holdings in Cisco Systems were worth $59,392,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new stake in Cisco Systems in the fourth quarter valued at $26,000. Highline Wealth Partners LLC lifted its stake in Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems in the third quarter valued at about $40,000. Decker Retirement Planning Inc. bought a new position in shares of Cisco Systems in the fourth quarter valued at about $49,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Cisco Systems in the third quarter valued at about $51,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.4 %

Shares of Cisco Systems stock opened at $63.81 on Friday. The company has a market capitalization of $253.85 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 4.16 and a beta of 0.84. The company has a quick ratio of 0.79, a current ratio of 0.87 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. The firm’s 50-day moving average price is $61.12 and its two-hundred day moving average price is $56.66.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data 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%. On average, analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its board has approved a stock repurchase program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are 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 paid a $0.41 dividend. This is an increase 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 2.57%. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 71.62%.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 3,042 shares of the firm’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 sale, the executive vice president now directly owns 207,798 shares in the company, valued at approximately $12,299,563.62. This trade represents a 1.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the sale, the chief executive officer now owns 736,120 shares in the company, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,848 shares of company stock worth $4,767,206. Corporate insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CSCO shares. The Goldman Sachs Group increased their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. increased their price objective on shares of Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Piper Sandler increased their price objective on shares of Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a research report 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. Finally, Bank of America increased their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Seven equities research 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 stock. According to data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $66.63.

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.