Callahan Advisors LLC Boosts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Callahan Advisors LLC boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 14.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 65,500 shares of the network equipment provider’s stock after buying an additional 8,126 shares during the quarter. Callahan Advisors LLC’s holdings in Cisco Systems were worth $3,878,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CSCO. Exchange Traded Concepts LLC raised its position in Cisco Systems by 57.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,126 shares of the network equipment provider’s stock worth $273,000 after buying an additional 1,876 shares during the last quarter. Swedbank AB increased its holdings in shares of Cisco Systems by 0.6% during the 3rd quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock valued at $480,555,000 after purchasing an additional 52,711 shares in the last quarter. AA Financial Advisors LLC purchased a new position in shares of Cisco Systems during the 3rd quarter valued at approximately $213,000. Brown Lisle Cummings Inc. increased its holdings in shares of Cisco Systems by 2.2% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 21,554 shares of the network equipment provider’s stock valued at $1,147,000 after purchasing an additional 456 shares in the last quarter. Finally, Penn Davis Mcfarland Inc. purchased a new position in shares of Cisco Systems during the 3rd quarter valued at approximately $1,117,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. StockNews.com raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday. Citigroup lifted their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating 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 company an “equal weight” rating in a report on Thursday, February 13th. Finally, 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 note on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.53.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 3,042 shares of Cisco Systems stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total transaction of $180,055.98. Following the transaction, the executive vice president now owns 207,798 shares in the company, valued at $12,299,563.62. The trade was a 1.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value 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. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,239 shares of company stock worth $2,166,612 in the last quarter. Company insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 1.6 %

Shares of CSCO opened at $64.87 on Tuesday. 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 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average is $60.19 and its two-hundred day moving average is $55.76. The stock has a market cap of $258.36 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 4.63 and a beta of 0.84.

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

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is currently 68.67%.

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

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.