Lokken Investment Group LLC Purchases 665 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Lokken Investment Group LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.6% in the 4th quarter, HoldingsChannel reports. The firm owned 26,715 shares of the network equipment provider’s stock after acquiring an additional 665 shares during the quarter. Lokken Investment Group LLC’s holdings in Cisco Systems were worth $1,582,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CSCO. Mainstream Capital Management LLC bought a new position in Cisco Systems during the fourth quarter valued at approximately $132,000. Morse Asset Management Inc purchased a new stake in shares of Cisco Systems in the 3rd quarter valued at $798,000. HighVista Strategies LLC bought a new position in shares of Cisco Systems during the 3rd quarter valued at $1,698,000. GAMMA Investing LLC raised its position in Cisco Systems by 13.1% in the 4th 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, Proficio Capital Partners LLC lifted its stake in Cisco Systems by 76.4% in the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock worth $1,003,000 after purchasing an additional 7,338 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Piper Sandler reaffirmed a “neutral” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Morgan Stanley raised their price target on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. UBS Group boosted their price objective on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Seven equities research 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.63.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems stock in a transaction on Friday, February 14th. The stock was 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 directly owns 335,605 shares in the company, valued at approximately $21,616,318.05. The trade was a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at $47,413,489.20. This represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is owned by company insiders.

Cisco Systems Trading Up 1.4 %

NASDAQ:CSCO opened at $61.71 on Tuesday. The company has a market cap of $245.50 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. 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 50 day simple moving average of $62.14 and a two-hundred day simple moving average of $58.69. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate 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 forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm 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 is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.66%. Cisco Systems’s dividend payout ratio (DPR) is presently 71.62%.

Cisco Systems declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is 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.