Berkshire Asset Management LLC PA Trims Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Berkshire Asset Management LLC PA reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 873,826 shares of the network equipment provider’s stock after selling 38,703 shares during the period. Cisco Systems comprises approximately 2.6% of Berkshire Asset Management LLC PA’s portfolio, making the stock its 8th biggest holding. Berkshire Asset Management LLC PA’s holdings in Cisco Systems were worth $54,378,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mainstream Capital Management LLC bought a new position in shares of Cisco Systems in the fourth quarter worth approximately $132,000. Morse Asset Management Inc bought a new position in shares of Cisco Systems in the third quarter worth approximately $798,000. HighVista Strategies LLC bought a new position in shares of Cisco Systems in the third quarter worth approximately $1,698,000. GAMMA Investing LLC grew its holdings in shares of Cisco Systems by 13.1% in the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after purchasing an additional 10,813 shares during the last quarter. Finally, Oddo BHF Asset Management Sas bought a new position in shares of Cisco Systems in the third quarter worth approximately $502,000. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 3,042 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $59.19, for a total transaction of $180,055.98. Following the completion of the sale, the executive vice president now directly owns 207,798 shares in the company, valued at $12,299,563.62. The trade was a 1.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 19,929 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the sale, 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. Insiders sold a total of 67,348 shares of company stock worth $4,318,181 in the last three months. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Price Performance

NASDAQ CSCO opened at $63.41 on Friday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The stock has a 50-day moving average of $61.54 and a 200 day moving average of $57.25. The company has a market capitalization of $252.26 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 4.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.

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 the consensus estimate 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, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its board has authorized a share buyback plan 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 purchase up to 6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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 issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.59%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 71.62%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Thursday. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. raised their price target on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Piper Sandler reissued a “neutral” rating on shares of Cisco Systems in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.63.

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.