Lincluden Management Ltd. Sells 580 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Lincluden Management Ltd. lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 226,319 shares of the network equipment provider’s stock after selling 580 shares during the period. Cisco Systems accounts for approximately 1.6% of Lincluden Management Ltd.’s holdings, making the stock its 17th biggest holding. Lincluden Management Ltd.’s holdings in Cisco Systems were worth $13,398,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new position in shares of Cisco Systems in the 4th quarter valued at approximately $26,000. Highline Wealth Partners LLC raised its holdings 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 worth $35,000 after purchasing an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in Cisco Systems during the third quarter valued at $40,000. Decker Retirement Planning Inc. purchased a new position in Cisco Systems during the fourth quarter valued at $49,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Cisco Systems in the 3rd quarter worth about $51,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CSCO shares. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. StockNews.com lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday. Bank of America upped their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Wells Fargo & Company lifted their price objective on Cisco Systems from $60.00 to $72.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Finally, Piper Sandler boosted their target price on Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.53.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 31,983 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 11,808 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $64.37, for a total transaction of $760,080.96. Following the completion of the sale, the executive vice president now directly owns 200,191 shares of the company’s stock, valued at $12,886,294.67. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,729 shares of company stock worth $5,058,748. Company insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

NASDAQ CSCO opened at $63.24 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The stock has a market capitalization of $251.59 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 4.16 and a beta of 0.84. The business’s fifty day moving average price is $60.75 and its 200-day moving average price is $56.42.

Cisco Systems (NASDAQ:CSCO) last posted its 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%. On average, equities analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently announced 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 yield of 2.59%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is 69.87%.

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

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.