Castlekeep Investment Advisors LLC Buys Shares of 14,445 Cisco Systems, Inc. (NASDAQ:CSCO)

Castlekeep Investment Advisors LLC purchased a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,445 shares of the network equipment provider’s stock, valued at approximately $855,000.

Other large investors also recently modified their holdings of the company. Pflug Koory LLC boosted its stake in shares of Cisco Systems by 0.5% during the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock valued at $1,955,000 after purchasing an additional 165 shares in the last quarter. Glass Jacobson Investment Advisors llc boosted its position in Cisco Systems by 8.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock worth $123,000 after buying an additional 166 shares during the period. Fairhaven Wealth Management LLC grew its holdings in Cisco Systems by 2.3% during the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock worth $449,000 after acquiring an additional 167 shares during the last quarter. BlackDiamond Wealth Management LLC increased its position in Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock valued at $335,000 after acquiring an additional 168 shares during the period. Finally, Maple Capital Management Inc. raised its stake in shares of Cisco Systems by 1.4% during the fourth quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock valued at $709,000 after acquiring an additional 170 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, 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 sale 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 Cisco Systems stock in a transaction on 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 owns 191,184 shares in the company, valued at $11,604,868.80. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock worth $4,275,553 in the last quarter. 0.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on CSCO shares. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Piper Sandler decreased their price target on Cisco Systems from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. The Goldman Sachs Group increased their target price 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. Finally, Rosenblatt Securities dropped their price target on shares of Cisco Systems from $80.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.05.

Cisco Systems Stock Down 0.0 %

Cisco Systems stock opened at $59.32 on Tuesday. 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 firm’s fifty day moving average price is $59.11 and its two-hundred day moving average price is $59.38. The firm has a market capitalization of $235.99 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50.

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

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

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.76%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 3rd. Cisco Systems’s payout ratio is currently 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.