Sovereign s Capital Management LLC Invests $2.12 Million in Cisco Systems, Inc. (NASDAQ:CSCO)

Sovereign s Capital Management LLC bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, Holdings Channel reports. The institutional investor bought 35,767 shares of the network equipment provider’s stock, valued at approximately $2,117,000.

A number of other institutional investors and hedge funds have also modified their holdings of CSCO. Pflug Koory LLC boosted its position in Cisco Systems by 0.5% during the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock worth $1,955,000 after acquiring an additional 165 shares during the last quarter. Glass Jacobson Investment Advisors llc raised its stake in shares of Cisco Systems by 8.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock valued at $123,000 after acquiring an additional 166 shares during the period. Fairhaven Wealth Management LLC raised its stake in shares of Cisco Systems by 2.3% in the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock valued at $449,000 after acquiring an additional 167 shares during the period. BlackDiamond Wealth Management LLC raised its stake in shares of 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% in the 4th 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 period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. upped their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday. StockNews.com raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday. Piper Sandler upped their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, The Goldman Sachs Group upped their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares in the company, valued at $11,604,868.80. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. This represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,635 shares of company stock valued at $931,901. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 1.0%

NASDAQ CSCO opened at $63.62 on Monday. The stock has a market capitalization of $253.10 billion, a P/E ratio of 27.78, a P/E/G ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The firm has a 50-day moving average price of $58.75 and a 200 day moving average price of $59.72. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same period last year, the company posted $0.88 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.58%. Cisco Systems’s dividend payout ratio (DPR) is presently 71.62%.

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 outstanding shares. This repurchase authorization allows the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.