Bowen Hanes & Co. Inc. Sells 395 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Bowen Hanes & Co. Inc. decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,665 shares of the network equipment provider’s stock after selling 395 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in Cisco Systems were worth $2,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new stake in Cisco Systems in the 4th quarter worth approximately $26,000. Highline Wealth Partners LLC increased its stake in Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares during the last quarter. Synergy Investment Management LLC bought a new stake in Cisco Systems in the 4th quarter worth approximately $36,000. RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems during the 3rd quarter valued at approximately $40,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Cisco Systems during the 4th quarter valued at approximately $49,000. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CSCO shares. StockNews.com downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 5th. Wells Fargo & Company reissued an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Rosenblatt Securities raised Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $66.00 to $80.00 in a research report on Thursday, February 13th. The Goldman Sachs Group upped their price objective on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.63.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 19,929 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the sale, the chief financial officer now directly owns 335,605 shares of the company’s stock, valued at $21,616,318.05. This trade represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $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. Insiders have sold 66,547 shares of company stock valued at $4,275,553 in the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO stock opened at $60.46 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $240.53 billion, a price-to-earnings ratio of 26.40, a P/E/G ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The stock has a fifty day simple moving average of $61.74 and a two-hundred day simple moving average of $57.62.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share 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 predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is currently 71.62%.

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

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.