Sabal Trust CO Raises Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Sabal Trust CO grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,819 shares of the network equipment provider’s stock after acquiring an additional 716 shares during the period. Sabal Trust CO’s holdings in Cisco Systems were worth $581,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CSCO. FPC Investment Advisory Inc. acquired a new stake in Cisco Systems during the 4th quarter valued at $26,000. Highline Wealth Partners LLC grew its holdings in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Cisco Systems during the 3rd quarter valued at $40,000. Decker Retirement Planning Inc. acquired a new stake in Cisco Systems during the 4th quarter valued at $49,000. Finally, Capital Performance Advisors LLP acquired a new stake in Cisco Systems during the 3rd quarter valued at $51,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.3 %

Shares of NASDAQ:CSCO opened at $64.08 on Thursday. The company has a market cap of $254.93 billion, a PE ratio of 27.98, a P/E/G ratio of 4.16 and a beta of 0.84. The company’s 50-day moving average price is $61.00 and its 200 day moving average price is $56.61. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two 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.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its board has approved a share repurchase program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors 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 $0.41 dividend. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.56%. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the sale, the senior vice president now directly owns 50,767 shares in the company, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was 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 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 disclosure for this sale can be found here. Insiders have sold a total of 74,848 shares of company stock worth $4,767,206 in the last ninety days. 0.01% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CSCO shares. Morgan Stanley raised their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Tuesday, January 28th. StockNews.com lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Piper Sandler raised their price objective on shares of Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, UBS Group raised their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Seven 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.53.

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.