HUB Investment Partners LLC Raises Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

HUB Investment Partners LLC boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 45,982 shares of the network equipment provider’s stock after buying an additional 1,680 shares during the quarter. HUB Investment Partners LLC’s holdings in Cisco Systems were worth $2,722,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Mainstream Capital Management LLC purchased a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $132,000. Morse Asset Management Inc purchased a new stake in shares of Cisco Systems in the 3rd quarter valued at approximately $798,000. HighVista Strategies LLC purchased a new stake in shares of Cisco Systems in the 3rd quarter valued at approximately $1,698,000. GAMMA Investing LLC raised its stake in shares of Cisco Systems by 13.1% in the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after acquiring an additional 10,813 shares during the period. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of Cisco Systems in the 3rd quarter valued at approximately $502,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value 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 $47,413,489.20. This represents a 4.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,547 shares of company stock worth $4,275,553. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Piper Sandler reissued a “neutral” rating on shares of Cisco Systems in a research note on Thursday, March 6th. JPMorgan Chase & Co. lifted their price objective on shares of Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Rosenblatt Securities upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $80.00 in a report on Thursday, February 13th. Wells Fargo & Company restated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Finally, Citigroup restated an “overweight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Seven equities 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. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus target price of $66.63.

Cisco Systems Trading Down 0.8 %

Shares of Cisco Systems stock opened at $60.62 on Friday. The company has a fifty day simple moving average of $61.92 and a 200-day simple moving average of $57.98. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. 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 cap of $241.16 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 4.16 and a beta of 0.79.

Cisco Systems (NASDAQ:CSCO) last issued its 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 net margin of 16.96% and a return on equity of 26.08%. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its board has approved a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a $0.41 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.71%. 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.