Princeton Capital Management LLC Sells 2,001 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Princeton Capital Management LLC decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 17,257 shares of the network equipment provider’s stock after selling 2,001 shares during the quarter. Princeton Capital Management LLC’s holdings in Cisco Systems were worth $1,022,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Pflug Koory LLC lifted its stake in shares of Cisco Systems by 0.5% in the 4th quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock valued at $1,955,000 after acquiring an additional 165 shares during the last quarter. Fairhaven Wealth Management LLC raised its position in Cisco Systems by 2.3% in the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock valued at $449,000 after purchasing an additional 167 shares during the last quarter. BlackDiamond Wealth Management LLC boosted its stake in shares of Cisco Systems by 3.1% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock valued at $335,000 after purchasing an additional 168 shares in the last quarter. Maple Capital Management Inc. grew its holdings in shares of Cisco Systems by 1.4% during the fourth quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock worth $709,000 after purchasing an additional 170 shares during the last quarter. Finally, Pathway Financial Advisors LLC grew its holdings in shares of Cisco Systems by 3.1% during the fourth quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock worth $343,000 after purchasing an additional 172 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Up 1.1 %

NASDAQ:CSCO opened at $60.97 on Tuesday. The company has a market cap of $242.56 billion, a PE ratio of 26.62, a PEG ratio of 4.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The firm has a 50-day moving average of $62.00 and a 200-day moving average of $58.25.

Cisco Systems (NASDAQ:CSCO) last released 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 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 EPS for the current fiscal year.

Cisco Systems announced that its Board of Directors 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 purchase up to 6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.69%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is presently 71.62%.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at $11,604,868.80. This trade represents a 1.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Charles Robbins sold 31,983 shares of Cisco Systems 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 completion of the sale, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. This represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,547 shares of company stock worth $4,275,553. Insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CSCO. Wells Fargo & Company restated an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Piper Sandler reiterated a “neutral” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a report on Tuesday, January 28th. Seven research 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 stock. According to MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and an average price target of $66.63.

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.