NEOS Investment Management LLC Purchases 65,788 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

NEOS Investment Management LLC boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 15.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 479,274 shares of the network equipment provider’s stock after buying an additional 65,788 shares during the period. Cisco Systems makes up 0.7% of NEOS Investment Management LLC’s holdings, making the stock its 21st biggest holding. NEOS Investment Management LLC’s holdings in Cisco Systems were worth $28,373,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Pflug Koory LLC grew its holdings in Cisco Systems by 0.5% in the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock worth $1,955,000 after purchasing an additional 165 shares during the period. Fairhaven Wealth Management LLC boosted its position in shares of Cisco Systems by 2.3% in the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock worth $449,000 after purchasing an additional 167 shares in the last quarter. BlackDiamond Wealth Management LLC grew its stake in shares of Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock worth $335,000 after buying an additional 168 shares during the last quarter. Maple Capital Management Inc. increased its position in Cisco Systems by 1.4% during the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock valued at $709,000 after buying an additional 170 shares in the last quarter. Finally, Pathway Financial Advisors LLC raised its stake in Cisco Systems by 3.1% during the fourth quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock valued at $343,000 after buying an additional 172 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

NASDAQ CSCO opened at $61.80 on Thursday. The company has a 50-day moving average price of $62.07 and a 200-day moving average price of $58.36. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $245.86 billion, a P/E ratio of 26.99, a PEG ratio of 4.16 and a beta of 0.79.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results 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 net margin of 16.96% and a return on equity of 26.08%. Equities research 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 share repurchase 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 reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership 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 issued a $0.41 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the sale, the chief executive officer now directly owns 736,120 shares in the company, valued at $47,413,489.20. This trade represents a 4.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard Scott Herren sold 19,929 shares of the company’s 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 completion of the transaction, the chief financial officer now directly owns 335,605 shares of the company’s stock, valued at $21,616,318.05. This represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,547 shares of company stock worth $4,275,553. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several analyst reports. Morgan Stanley raised their price target on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Barclays restated an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. 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. DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Finally, BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective for the company in a report on Tuesday, January 28th. Seven investment 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $66.63.

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.