Birchcreek Wealth Management LLC Makes New Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Birchcreek Wealth Management LLC bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, HoldingsChannel reports. The fund bought 3,478 shares of the network equipment provider’s stock, valued at approximately $206,000.

A number of other hedge funds have also bought and sold shares of CSCO. FPC Investment Advisory Inc. purchased a new position in Cisco Systems in the 4th quarter worth about $26,000. Highline Wealth Partners LLC increased its position in shares of 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 during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Cisco Systems during the 3rd quarter valued at about $40,000. Decker Retirement Planning Inc. purchased a new stake in shares of Cisco Systems during the 4th quarter valued at about $49,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Cisco Systems during the 3rd quarter valued at about $51,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 1.1 %

CSCO stock opened at $63.98 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The company has a market capitalization of $254.53 billion, a price-to-earnings ratio of 27.94, a PEG 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 business has a 50 day simple moving average of $60.65 and a two-hundred day simple moving average of $56.30.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 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%. Research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its board has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. 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 dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is currently 69.87%.

Insider Activity

In related news, CFO Richard Scott Herren sold 19,929 shares of the stock in a transaction 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 owns 335,605 shares in the company, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their position. The transaction was disclosed in a filing 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 value 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. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,921 shares of company stock worth $4,298,667. 0.01% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Piper Sandler upped their price target on shares of Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. 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 research report on Tuesday, January 28th. Finally, Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.53.

Cisco Systems Company 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.