Nia Impact Advisors LLC Purchases 279 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Nia Impact Advisors LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 8,263 shares of the network equipment provider’s stock after buying an additional 279 shares during the quarter. Nia Impact Advisors LLC’s holdings in Cisco Systems were worth $489,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new stake in Cisco Systems in the 4th quarter worth about $3,297,905,000. FMR LLC raised its stake in Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after purchasing an additional 13,285,052 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Cisco Systems in the 4th quarter worth about $560,722,000. Alyeska Investment Group L.P. acquired a new stake in Cisco Systems in the 4th quarter worth about $413,491,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in Cisco Systems by 187.9% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider’s stock worth $442,749,000 after purchasing an additional 4,880,747 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Up 0.2%

Shares of Cisco Systems stock opened at $61.78 on Wednesday. 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 company’s fifty day simple moving average is $58.70 and its two-hundred day simple moving average is $59.53. The company has a market cap of $245.78 billion, a P/E ratio of 26.98, a PEG ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last released its 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 return on equity of 26.08% and a net margin of 16.96%. Research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its board has initiated 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 reacquire up to 6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have weighed in on CSCO. Wells Fargo & Company reiterated an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. JPMorgan Chase & Co. decreased their target price on shares of Cisco Systems from $73.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Piper Sandler decreased their target price on shares of Cisco Systems from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Evercore ISI decreased their target price on shares of Cisco Systems from $75.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. Finally, The Goldman Sachs Group raised their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.05.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares in the company, valued at approximately $2,693,013.45. This represents a 1.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 19,929 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the transaction, the chief financial officer now owns 335,605 shares in the company, valued at $21,616,318.05. This represents a 5.61% decrease in their position. 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 in the last quarter. Corporate insiders own 0.01% of the company’s stock.

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.