Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Navellier & Associates Inc.

Navellier & Associates Inc. boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 33.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,100 shares of the network equipment provider’s stock after buying an additional 2,014 shares during the quarter. Navellier & Associates Inc.’s holdings in Cisco Systems were worth $480,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CSCO. Swedbank AB grew its position 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 valued at $480,555,000 after purchasing an additional 52,711 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Cisco Systems by 6.8% in the third quarter. Assenagon Asset Management S.A. now owns 171,490 shares of the network equipment provider’s stock valued at $9,127,000 after purchasing an additional 10,895 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Cisco Systems by 4.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 8,586,581 shares of the network equipment provider’s stock valued at $452,526,000 after purchasing an additional 347,061 shares during the period. Mattern Capital Management LLC grew its position in shares of Cisco Systems by 0.6% in the third quarter. Mattern Capital Management LLC now owns 169,711 shares of the network equipment provider’s stock valued at $9,032,000 after purchasing an additional 1,046 shares during the period. Finally, Smith Salley Wealth Management grew its position in shares of Cisco Systems by 0.9% in the third quarter. Smith Salley Wealth Management now owns 68,758 shares of the network equipment provider’s stock valued at $3,659,000 after purchasing an additional 580 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 3,042 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total transaction of $180,055.98. Following the sale, the executive vice president now directly owns 207,798 shares of the company’s stock, valued at $12,299,563.62. This represents a 1.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 19,929 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 transaction of $1,283,626.89. Following the sale, the chief financial officer now directly owns 335,605 shares in the company, valued at approximately $21,616,318.05. The trade was a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,921 shares of company stock valued at $4,298,667. Company insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. 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 research report on Thursday, November 14th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Piper Sandler boosted their price target on shares of Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a research report on Tuesday, January 28th. Finally, Morgan Stanley boosted their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $66.53.

Cisco Systems Price Performance

Cisco Systems stock opened at $63.98 on Monday. The company’s 50 day simple moving average is $60.65 and its 200-day simple moving average is $56.30. The company has a market capitalization of $254.53 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (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%. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

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 paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.56%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is 69.87%.

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.