Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Sei Investments Co.

Sei Investments Co. raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,183,006 shares of the network equipment provider’s stock after purchasing an additional 34,103 shares during the quarter. Sei Investments Co. owned about 0.05% of Cisco Systems worth $129,234,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CSCO. Swedbank AB increased its stake in shares of Cisco Systems by 0.6% in the third quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock worth $480,555,000 after acquiring an additional 52,711 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Cisco Systems in the third quarter worth $16,798,000. Pacer Advisors Inc. increased its stake in shares of Cisco Systems by 5.8% in the third quarter. Pacer Advisors Inc. now owns 682,132 shares of the network equipment provider’s stock worth $36,303,000 after acquiring an additional 37,424 shares during the period. CFS Investment Advisory Services LLC increased its stake in shares of Cisco Systems by 4.0% in the third quarter. CFS Investment Advisory Services LLC now owns 16,881 shares of the network equipment provider’s stock worth $898,000 after acquiring an additional 651 shares during the period. Finally, Meridian Wealth Management LLC increased its stake in shares of Cisco Systems by 10.9% in the third quarter. Meridian Wealth Management LLC now owns 20,952 shares of the network equipment provider’s stock worth $1,117,000 after acquiring an additional 2,060 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction dated 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the sale, the chief financial officer now owns 335,605 shares of the company’s stock, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,547 shares of company stock worth $4,275,553. Insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Cisco Systems stock opened at $60.30 on Friday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The stock has a market cap of $239.89 billion, a P/E ratio of 26.33, a PEG ratio of 4.16 and a beta of 0.79. The company has a 50-day moving average price of $61.95 and a 200 day moving average price of $58.11. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data 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 26.08% and a net margin of 16.96%. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

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

Cisco Systems Increases Dividend

The company also recently disclosed 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. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 71.62%.

Analyst Upgrades and Downgrades

CSCO has been the topic of a number of research reports. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company reissued an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Piper Sandler reissued a “neutral” rating on shares of Cisco Systems in a report on Thursday, March 6th. JPMorgan Chase & Co. increased their price target on shares of Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Citigroup reissued an “overweight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.63.

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.