Selway Asset Management Has $6.82 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Selway Asset Management lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 115,157 shares of the network equipment provider’s stock after purchasing an additional 970 shares during the quarter. Cisco Systems accounts for approximately 2.7% of Selway Asset Management’s holdings, making the stock its 9th biggest holding. Selway Asset Management’s holdings in Cisco Systems were worth $6,817,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. State Street Corp boosted its stake in Cisco Systems by 1.7% in the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after purchasing an additional 3,241,682 shares in the last quarter. Geode Capital Management LLC lifted its position in Cisco Systems by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after buying an additional 1,262,017 shares in the last quarter. Norges Bank bought a new stake in Cisco Systems during the 4th quarter worth about $3,297,905,000. Nordea Investment Management AB increased its position in Cisco Systems by 1.2% in the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock valued at $1,107,930,000 after acquiring an additional 216,632 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Cisco Systems by 7.0% in the third quarter. Franklin Resources Inc. now owns 18,214,461 shares of the network equipment provider’s stock worth $988,499,000 after acquiring an additional 1,195,469 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Up 0.0 %

NASDAQ:CSCO opened at $61.82 on Thursday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The stock has a 50-day moving average price of $62.16 and a two-hundred day moving average price of $58.79. The stock has a market cap of $245.94 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 4.16 and a beta of 0.79. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share 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%. As a group, equities analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This is an increase 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 2.65%. Cisco Systems’s dividend payout ratio is currently 71.62%.

Cisco Systems declared that its board has approved a share buyback program on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to repurchase 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 stock is undervalued.

Analysts Set New Price Targets

CSCO has been the topic of several research analyst reports. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Citigroup reissued an “overweight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Morgan Stanley upped their price target on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Piper Sandler reiterated a “neutral” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction that occurred 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 sale, the senior vice president now owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at $11,604,868.80. This represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock worth $4,275,553 over the last ninety days. Company insiders own 0.01% of the company’s stock.

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.