Cisco Systems, Inc. (NASDAQ:CSCO) Position Increased by Terra Alpha Investments LLC

Terra Alpha Investments LLC lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 32,222 shares of the network equipment provider’s stock after buying an additional 1,460 shares during the quarter. Cisco Systems makes up 2.2% of Terra Alpha Investments LLC’s portfolio, making the stock its 18th biggest position. Terra Alpha Investments LLC’s holdings in Cisco Systems were worth $1,988,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CSCO. Mainstream Capital Management LLC bought a new position in shares of Cisco Systems during the fourth quarter valued at approximately $132,000. Proficio Capital Partners LLC grew its stake in Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock worth $1,003,000 after buying an additional 7,338 shares during the last quarter. Investment Management Corp of Ontario increased its position in Cisco Systems by 44.6% in the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock worth $11,454,000 after buying an additional 59,680 shares during the period. Aveo Capital Partners LLC lifted its stake in Cisco Systems by 8.3% in the fourth quarter. Aveo Capital Partners LLC now owns 5,296 shares of the network equipment provider’s stock valued at $314,000 after buying an additional 407 shares during the last quarter. Finally, AlTi Global Inc. boosted its holdings in shares of Cisco Systems by 49.8% during the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider’s stock valued at $1,217,000 after acquiring an additional 6,811 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CSCO shares. JPMorgan Chase & Co. increased their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Citigroup upped their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Evercore ISI lifted their price target on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Rosenblatt Securities lifted their target price on Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $65.90 on Tuesday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week 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 company’s 50-day moving average price is $59.69 and its two-hundred day moving average price is $60.43. The stock has a market cap of $260.96 billion, a PE ratio of 28.78, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The business had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.88 earnings per share. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems announced that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the sale, the chief executive officer now directly owns 688,409 shares of the company’s stock, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Oliver Tuszik sold 15,000 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total transaction of $952,950.00. Following the completion of the transaction, the executive vice president now directly owns 131,676 shares in the company, valued at approximately $8,365,376.28. This trade represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,400 shares of company stock worth $4,564,439 in the last quarter. 0.01% of the stock is owned by company insiders.

About Cisco Systems

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.