Colonial River Investments LLC Has $408,000 Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Colonial River Investments LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 14.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 6,895 shares of the network equipment provider’s stock after selling 1,158 shares during the quarter. Colonial River Investments LLC’s holdings in Cisco Systems were worth $408,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Birchcreek Wealth Management LLC acquired a new position in Cisco Systems during the 4th quarter worth $206,000. Boothe Investment Group Inc. lifted its holdings in Cisco Systems by 3.2% during the 4th quarter. Boothe Investment Group Inc. now owns 39,828 shares of the network equipment provider’s stock worth $2,358,000 after buying an additional 1,226 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Cisco Systems during the 4th quarter worth $5,225,000. Union Bancaire Privee UBP SA acquired a new position in Cisco Systems during the 4th quarter worth $3,462,000. Finally, Ascent Wealth Partners LLC acquired a new position in Cisco Systems during the 4th quarter worth $250,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 31,983 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 736,120 shares in the company, valued at $47,413,489.20. This represents a 4.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 335,605 shares of the company’s stock, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,921 shares of company stock worth $4,298,667. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

CSCO opened at $63.98 on Monday. The company has a quick ratio of 0.79, a current ratio of 0.87 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 company has a fifty day simple moving average of $60.65 and a 200 day simple moving average of $56.30. The stock has a market cap of $254.53 billion, a P/E ratio of 27.94, a P/E/G ratio of 4.16 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its 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 expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its board has approved a share buyback program on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors 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. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is 69.87%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Piper Sandler upped their price objective on Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. increased their price target on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. The Goldman Sachs Group increased their price target on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Citigroup increased their price target on Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.53.

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.