Haverford Trust Co Trims Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Haverford Trust Co lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,197,915 shares of the network equipment provider’s stock after selling 8,385 shares during the period. Haverford Trust Co’s holdings in Cisco Systems were worth $70,917,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at about $30,000. Campbell Capital Management Inc. acquired a new stake in Cisco Systems in the fourth quarter worth about $31,000. Highline Wealth Partners LLC increased 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 valued at $35,000 after buying an additional 260 shares during the period. Finally, Synergy Investment Management LLC acquired a new stake in shares of Cisco Systems in the 4th quarter worth approximately $36,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $60.30 on Monday. The firm has a market cap of $239.89 billion, a price-to-earnings ratio of 26.33, a P/E/G ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $61.95 and a 200 day simple moving average of $58.17.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share 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%. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is currently 71.62%.

Cisco Systems declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CSCO shares. 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. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Piper Sandler reiterated a “neutral” rating on shares of Cisco Systems in a report on Thursday, March 6th. Finally, Morgan Stanley raised their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Seven equities research 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.63.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares in the company, valued at approximately $2,693,013.45. This trade represents a 1.70 % decrease in their position. 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 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 owns 736,120 shares of the company’s stock, 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 quarter, insiders have sold 66,547 shares of company stock worth $4,275,553. Insiders own 0.01% of the company’s stock.

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.