Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Pettyjohn Wood & White Inc.

Pettyjohn Wood & White Inc. increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% in the fourth quarter, Holdings Channel reports. The firm owned 132,716 shares of the network equipment provider’s stock after purchasing an additional 1,690 shares during the period. Cisco Systems comprises 1.4% of Pettyjohn Wood & White Inc.’s holdings, making the stock its 20th largest position. Pettyjohn Wood & White Inc.’s holdings in Cisco Systems were worth $7,857,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems in the fourth quarter valued at about $26,000. Highline Wealth Partners LLC boosted its position in Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems in the 3rd quarter worth approximately $40,000. Decker Retirement Planning Inc. purchased a new position in Cisco Systems during the 4th quarter worth approximately $49,000. Finally, Capital Performance Advisors LLP acquired a new stake in Cisco Systems during the 3rd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the sale, the senior vice president now directly owns 50,767 shares in the company, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 31,983 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 $2,060,025.03. Following the transaction, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,848 shares of company stock worth $4,767,206. Insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Cisco Systems stock opened at $63.81 on Friday. The firm has a market capitalization of $253.85 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 4.16 and a beta of 0.84. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a fifty day simple moving average of $61.12 and a 200-day simple moving average of $56.66. 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 (NASDAQ:CSCO) last announced its quarterly earnings data 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%. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its board has approved a stock repurchase program on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Cisco Systems Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.57%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of research reports. Piper Sandler increased their price objective on shares of Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Barclays lifted their price objective on Cisco Systems from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Wells Fargo & Company lifted their price target on Cisco Systems from $60.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. upped their price objective on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.63.

About Cisco Systems

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.