Consolidated Planning Corp Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Consolidated Planning Corp lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 25.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,223 shares of the network equipment provider’s stock after selling 1,766 shares during the quarter. Consolidated Planning Corp’s holdings in Cisco Systems were worth $309,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Morse Asset Management Inc purchased a new stake in shares of Cisco Systems in the 3rd quarter worth about $798,000. HighVista Strategies LLC bought a new position in Cisco Systems in the third quarter worth about $1,698,000. GAMMA Investing LLC boosted its position in Cisco Systems by 13.1% during the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after acquiring an additional 10,813 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Cisco Systems during the 3rd quarter worth approximately $502,000. Finally, Commerzbank Aktiengesellschaft FI raised its position in shares of Cisco Systems by 10.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after acquiring an additional 162,544 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

CSCO stock opened at $63.84 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The company has a market cap of $254.26 billion, a P/E ratio of 27.40, a price-to-earnings-growth ratio of 4.63 and a beta of 0.84. The stock’s fifty day moving average price is $59.89 and its 200-day moving average price is $55.36.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results 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 net margin of 17.73% and a return on equity of 25.70%. On average, equities analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems declared that its board has authorized a stock buyback program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.57%. Cisco Systems’s payout ratio is 68.67%.

Insider Buying and Selling at Cisco Systems

In related news, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the transaction, the senior vice president now owns 51,931 shares in the company, valued at approximately $3,101,838.63. The trade was a 8.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the sale, the executive vice president now directly owns 213,834 shares in the company, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,239 shares of company stock valued at $2,166,612. Company insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the topic of several research reports. Barclays lifted their price target on Cisco Systems from $56.00 to $61.00 and gave the company an “equal weight” rating in a research report on Thursday. Piper Sandler increased their price target on shares of Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday. The Goldman Sachs Group lifted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday. Wells Fargo & Company upped their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Bank of America lifted their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $66.53.

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.