Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by OLD Point Trust & Financial Services N A

OLD Point Trust & Financial Services N A decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 131,685 shares of the network equipment provider’s stock after selling 1,841 shares during the period. Cisco Systems makes up 2.7% of OLD Point Trust & Financial Services N A’s portfolio, making the stock its 10th largest holding. OLD Point Trust & Financial Services N A’s holdings in Cisco Systems were worth $7,796,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mainstream Capital Management LLC acquired a new position in shares of Cisco Systems in the fourth quarter valued at $132,000. Morse Asset Management Inc acquired a new stake in shares of Cisco Systems during the 3rd quarter valued at about $798,000. HighVista Strategies LLC bought a new stake in Cisco Systems in the third quarter valued at about $1,698,000. GAMMA Investing LLC lifted its stake in Cisco Systems by 13.1% during the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after purchasing an additional 10,813 shares during the period. Finally, Oddo BHF Asset Management Sas acquired a new stake in Cisco Systems during the third quarter valued at approximately $502,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Cisco Systems stock opened at $61.12 on Thursday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The company’s 50-day moving average is $61.89 and its two-hundred day moving average is $57.97. 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 has a market cap of $243.15 billion, a PE ratio of 26.69, a PEG ratio of 4.16 and a beta of 0.79.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data 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%. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems declared that its board has authorized a stock buyback plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows 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 of directors believes its stock is undervalued.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is currently 71.62%.

Insider Buying and Selling at Cisco Systems

In related news, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $1,283,626.89. Following the transaction, the chief financial officer now owns 335,605 shares in the company, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,547 shares of company stock valued at $4,275,553. 0.01% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. JPMorgan Chase & Co. lifted their price objective on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Piper Sandler reaffirmed a “neutral” rating on shares of Cisco Systems in a report on Thursday, March 6th. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Finally, Morgan Stanley upped their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.63.

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.