Brown Miller Wealth Management LLC Raises Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Brown Miller Wealth Management LLC grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,330 shares of the network equipment provider’s stock after buying an additional 343 shares during the period. Cisco Systems makes up 1.5% of Brown Miller Wealth Management LLC’s portfolio, making the stock its 11th largest holding. Brown Miller Wealth Management LLC’s holdings in Cisco Systems were worth $3,927,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems in the 4th quarter worth about $26,000. Highline Wealth Partners LLC lifted its holdings in shares of Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares during the last quarter. Synergy Investment Management LLC bought a new stake in shares of Cisco Systems in the 4th quarter worth about $36,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Cisco Systems in the 3rd quarter worth about $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Cisco Systems in the 4th quarter worth about $49,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $59.67 on Friday. The company’s fifty day moving average price is $61.75 and its 200 day moving average price is $57.63. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The company has a market capitalization of $237.38 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. 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 announced 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 return on equity of 26.08% and a net margin of 16.96%. On average, research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. 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 dividend on an annualized basis and a yield of 2.75%. Cisco Systems’s dividend payout ratio is 71.62%.

Cisco Systems declared that its board has authorized a stock buyback 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 repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CSCO shares. Piper Sandler restated a “neutral” rating on shares of Cisco Systems in a report on Thursday, March 6th. Bank of America lifted their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group lifted their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and an average price target of $66.63.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at $2,693,013.45. This trade represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,547 shares of company stock valued at $4,275,553. Corporate insiders own 0.01% of the company’s stock.

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.