Twin Capital Management Inc. Boosts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Twin Capital Management Inc. increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 19.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,900 shares of the network equipment provider’s stock after buying an additional 6,432 shares during the period. Twin Capital Management Inc.’s holdings in Cisco Systems were worth $2,303,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP lifted its position in Cisco Systems by 92.3% during the third quarter. Quarry LP now owns 1,271 shares of the network equipment provider’s stock valued at $68,000 after buying an additional 610 shares during the period. Bontempo Ohly Capital Mgmt LLC grew its holdings in Cisco Systems by 2.7% in the third quarter. Bontempo Ohly Capital Mgmt LLC now owns 80,435 shares of the network equipment provider’s stock worth $4,281,000 after purchasing an additional 2,082 shares during the period. Dunhill Financial LLC increased its stake in shares of Cisco Systems by 145.4% during the third quarter. Dunhill Financial LLC now owns 1,654 shares of the network equipment provider’s stock valued at $88,000 after purchasing an additional 980 shares in the last quarter. MML Investors Services LLC increased its stake in shares of Cisco Systems by 1.4% during the third quarter. MML Investors Services LLC now owns 932,221 shares of the network equipment provider’s stock valued at $49,613,000 after purchasing an additional 12,849 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Cisco Systems by 2.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,583,832 shares of the network equipment provider’s stock worth $137,512,000 after purchasing an additional 52,242 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In other news, CFO Richard Scott Herren sold 19,929 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the completion of the sale, the chief financial officer now owns 335,605 shares in the company, valued at approximately $21,616,318.05. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction that occurred 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 transaction, 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. Over the last 90 days, insiders have sold 66,547 shares of company stock worth $4,275,553. Insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

CSCO has been the subject of a number of recent research reports. Citigroup reiterated an “overweight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Piper Sandler reiterated a “neutral” rating on shares of Cisco Systems in a report on Thursday, March 6th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Seven investment 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. According to MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.63.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $54.54 on Monday. 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 50-day moving average price of $61.91 and a 200 day moving average price of $58.92. The stock has a market capitalization of $216.98 billion, a P/E ratio of 23.82, a P/E/G ratio of 4.16 and a beta of 0.86.

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

Cisco Systems declared that its Board of Directors has approved a stock buyback plan 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 buy up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a $0.41 dividend. The ex-dividend date is Thursday, April 3rd. This is a positive change 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 3.01%. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

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.