Pinion Investment Advisors LLC Has $921,000 Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Pinion Investment Advisors LLC boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,566 shares of the network equipment provider’s stock after acquiring an additional 184 shares during the period. Pinion Investment Advisors LLC’s holdings in Cisco Systems were worth $921,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC grew its position in shares of Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after buying an additional 5,885,879 shares during the period. Two Sigma Advisers LP boosted its stake in Cisco Systems by 327.5% in the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after acquiring an additional 5,223,800 shares during the last quarter. National Bank of Canada FI raised its position in shares of Cisco Systems by 79.6% during the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock valued at $477,463,000 after acquiring an additional 3,975,028 shares during the last quarter. State Street Corp lifted its stake in shares of Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after purchasing an additional 3,241,682 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Cisco Systems by 87.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,541,607 shares of the network equipment provider’s stock worth $294,923,000 after purchasing an additional 2,591,684 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CSCO shares. UBS Group increased their target price on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Barclays increased their price target on shares of Cisco Systems from $56.00 to $61.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. Piper Sandler boosted their price objective on shares of Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Citigroup increased their target price on shares of Cisco Systems from $71.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, The Goldman Sachs Group boosted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.63.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $63.48 on Tuesday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The stock has a 50 day moving average price of $61.32 and a 200 day moving average price of $57.06. The stock has a market capitalization of $252.54 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released 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%. Analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

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 paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.58%. 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%.

Cisco Systems declared that its board has initiated a stock buyback plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the transaction, the senior vice president now owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The sale 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 stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,848 shares of company stock valued at $4,767,206 in the last ninety days. 0.01% of the stock is currently owned by company insiders.

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.