PDS Planning Inc Has $1.20 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

PDS Planning Inc grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 20,187 shares of the network equipment provider’s stock after acquiring an additional 1,092 shares during the quarter. PDS Planning Inc’s holdings in Cisco Systems were worth $1,195,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pflug Koory LLC boosted its position in Cisco Systems by 0.5% during 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 Cisco Systems by 2.3% during the fourth 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 during the period. BlackDiamond Wealth Management LLC boosted its position in Cisco Systems by 3.1% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock worth $335,000 after purchasing an additional 168 shares during the period. Maple Capital Management Inc. boosted its position in Cisco Systems by 1.4% during the fourth quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock worth $709,000 after purchasing an additional 170 shares during the period. Finally, Pathway Financial Advisors LLC boosted its position in shares of Cisco Systems by 3.1% in the fourth quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock valued at $343,000 after acquiring an additional 172 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now owns 736,120 shares of the company’s stock, valued at $47,413,489.20. This represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the transaction, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at $2,693,013.45. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,547 shares of company stock valued at $4,275,553 over the last quarter. 0.01% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CSCO. UBS Group boosted their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Morgan Stanley boosted their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler reissued a “neutral” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Finally, DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.63.

Cisco Systems Stock Up 0.6 %

Shares of NASDAQ CSCO opened at $60.89 on Tuesday. 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 market cap of $242.24 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The stock has a 50-day moving average price of $61.83 and a two-hundred day moving average price of $57.88.

Cisco Systems (NASDAQ:CSCO) last issued its 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 return on equity of 26.08% and a net margin of 16.96%. As a group, analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its board has initiated a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Cisco Systems Increases Dividend

The company 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 $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.69%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is currently 71.62%.

About Cisco Systems

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.