Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 64,991 shares of the network equipment provider’s stock after acquiring an additional 2,452 shares during the period. Meeder Advisory Services Inc.’s holdings in Cisco Systems were worth $3,847,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Benjamin Edwards Inc. lifted its stake in Cisco Systems by 1,496.4% during the third quarter. Benjamin Edwards Inc. now owns 134,748 shares of the network equipment provider’s stock valued at $7,171,000 after buying an additional 126,307 shares in the last quarter. Ascent Group LLC lifted its position in shares of Cisco Systems by 2.5% in the 3rd quarter. Ascent Group LLC now owns 46,613 shares of the network equipment provider’s stock valued at $2,481,000 after acquiring an additional 1,119 shares in the last quarter. Garden State Investment Advisory Services LLC boosted its position in shares of Cisco Systems by 5.7% in the third quarter. Garden State Investment Advisory Services LLC now owns 4,500 shares of the network equipment provider’s stock worth $240,000 after buying an additional 244 shares during the period. Hilltop Holdings Inc. boosted its position in Cisco Systems by 46.7% during the 3rd quarter. Hilltop Holdings Inc. now owns 122,957 shares of the network equipment provider’s stock worth $6,544,000 after acquiring an additional 39,139 shares during the period. Finally, HighVista Strategies LLC acquired a new stake in shares of Cisco Systems during the third quarter worth approximately $1,698,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Up 0.1 %

NASDAQ CSCO opened at $61.80 on Wednesday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year 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’s 50 day moving average is $62.16 and its two-hundred day moving average is $58.77. The company has a market capitalization of $245.86 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 4.16 and a beta of 0.79.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results 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 net margin of 16.96% and a return on equity of 26.08%. Equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.65%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

Cisco Systems announced that its board has approved a stock buyback plan 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 repurchase up to 6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CSCO. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Wells Fargo & Company restated an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Citigroup reiterated an “overweight” rating on shares of Cisco Systems in a report on Thursday, March 6th. 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.63.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. The trade was a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the firm’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 of the company’s stock, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,547 shares of company stock valued at $4,275,553. 0.01% of the stock is currently owned by insiders.

Cisco Systems 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.