Hudson Edge Investment Partners Inc. Has $6.94 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Hudson Edge Investment Partners Inc. trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,143 shares of the network equipment provider’s stock after selling 9,570 shares during the quarter. Cisco Systems comprises about 1.3% of Hudson Edge Investment Partners Inc.’s portfolio, making the stock its 15th biggest position. Hudson Edge Investment Partners Inc.’s holdings in Cisco Systems were worth $6,935,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Highline Wealth Partners LLC raised its stake in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after buying an additional 260 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems during the 3rd quarter worth approximately $40,000. Decker Retirement Planning Inc. acquired a new position in Cisco Systems during the 4th quarter worth approximately $49,000. Capital Performance Advisors LLP acquired a new position in Cisco Systems during the 3rd quarter worth approximately $51,000. Finally, FSA Wealth Management LLC acquired a new position in Cisco Systems during the 3rd quarter worth approximately $56,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Down 1.1 %

Shares of NASDAQ:CSCO opened at $63.98 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The company has a market cap of $254.53 billion, a PE ratio of 27.94, a P/E/G ratio of 4.17 and a beta of 0.84. 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 stock’s 50-day moving average is $60.65 and its 200 day moving average is $56.15.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly 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 net margin of 16.96% and a return on equity of 26.08%. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its board has authorized a share repurchase program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors 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 an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is currently 71.62%.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of the company’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 in the company, valued at approximately $47,413,489.20. This represents a 4.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the transaction, the senior vice president now owns 51,931 shares in the company, valued at $3,101,838.63. This trade represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,921 shares of company stock worth $4,298,667 in the last 90 days. Company insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CSCO shares. Barclays upped their price target on Cisco Systems from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 13th. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Rosenblatt Securities raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $66.00 to $80.00 in a research note on Thursday, February 13th. Finally, Piper Sandler increased their price objective on Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.