Bigelow Investment Advisors LLC Sells 1,897 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Bigelow Investment Advisors LLC lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,808 shares of the network equipment provider’s stock after selling 1,897 shares during the period. Bigelow Investment Advisors LLC’s holdings in Cisco Systems were worth $1,646,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CSCO. Swedbank AB raised its position in Cisco Systems by 0.6% in the 3rd quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock worth $480,555,000 after purchasing an additional 52,711 shares during the last quarter. Wealth Effects LLC bought a new position in Cisco Systems in the 3rd quarter worth approximately $208,000. Horst & Graben Wealth Management LLC grew its holdings in Cisco Systems by 5.8% during the 3rd quarter. Horst & Graben Wealth Management LLC now owns 14,879 shares of the network equipment provider’s stock worth $792,000 after acquiring an additional 819 shares during the period. Waterway Wealth Management LLC grew its holdings in Cisco Systems by 15.6% during the 3rd quarter. Waterway Wealth Management LLC now owns 11,692 shares of the network equipment provider’s stock worth $622,000 after acquiring an additional 1,578 shares during the period. Finally, Integrity Financial Corp WA grew its holdings in Cisco Systems by 4.4% during the 3rd quarter. Integrity Financial Corp WA now owns 9,575 shares of the network equipment provider’s stock worth $510,000 after acquiring an additional 400 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

CSCO stock opened at $64.59 on Wednesday. The stock has a 50-day moving average price of $60.31 and a two-hundred day moving average price of $55.89. The stock has a market cap of $257.25 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 4.63 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Equities analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.54%. 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. Cisco Systems’s dividend payout ratio is currently 68.67%.

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

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of analyst reports. Rosenblatt Securities raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $80.00 in a report on Thursday, February 13th. Wells Fargo & Company lifted their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Bank of America lifted their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Piper Sandler lifted their target price on shares of Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.53.

Insider Activity at Cisco Systems

In other Cisco Systems news, Director Kristina M. Johnson sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $59.87, for a total transaction of $449,025.00. Following the completion of the sale, the director now directly owns 65,915 shares in the company, valued at $3,946,331.05. This trade represents a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 4,881 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total transaction of $291,542.13. Following the sale, the senior vice president now owns 51,931 shares of the company’s stock, valued at $3,101,838.63. This trade represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,921 shares of company stock worth $4,298,667. Insiders own 0.01% of the company’s stock.

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.