Intrepid Financial Planning Group LLC Acquires Shares of 3,435 Cisco Systems, Inc. (NASDAQ:CSCO)

Intrepid Financial Planning Group LLC acquired a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the 4th quarter, Holdings Channel.com reports. The fund acquired 3,435 shares of the network equipment provider’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Swedbank AB increased its holdings in shares of Cisco Systems by 0.6% during the third quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock valued at $480,555,000 after acquiring an additional 52,711 shares in the last quarter. Northcape Wealth Management LLC increased its holdings in shares of Cisco Systems by 1.6% during the third quarter. Northcape Wealth Management LLC now owns 59,365 shares of the network equipment provider’s stock valued at $3,159,000 after acquiring an additional 963 shares in the last quarter. Seelaus Asset Management LLC increased its holdings in shares of Cisco Systems by 10.7% during the third quarter. Seelaus Asset Management LLC now owns 11,247 shares of the network equipment provider’s stock valued at $599,000 after acquiring an additional 1,086 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Cisco Systems by 9.9% during the third quarter. Natixis Advisors LLC now owns 2,652,863 shares of the network equipment provider’s stock valued at $141,186,000 after acquiring an additional 238,210 shares in the last quarter. Finally, RIA Advisory Group LLC bought a new position in shares of Cisco Systems during the third quarter valued at $835,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CSCO. Piper Sandler reiterated a “neutral” rating on shares of Cisco Systems in a report on Thursday, March 6th. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective for the company in a report on Tuesday, January 28th. Citigroup reiterated an “overweight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Finally, Morgan Stanley lifted their price objective on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.63.

Cisco Systems Stock Up 1.4 %

NASDAQ CSCO opened at $60.50 on Friday. The stock’s 50 day moving average is $61.79 and its 200 day moving average is $57.75. 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, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The stock has a market cap of $240.69 billion, a PE ratio of 26.42, a P/E/G ratio of 4.16 and a beta of 0.79.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly 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 return on equity of 26.08% and a net margin of 16.96%. Research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.71%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is 71.62%.

Cisco Systems declared 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 shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 31,983 shares of the business’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 $2,060,025.03. Following the transaction, the chief executive officer now owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares in the company, valued at approximately $2,693,013.45. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,547 shares of company stock valued at $4,275,553 in the last ninety days. 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.