Segall Bryant & Hamill LLC Takes $650,000 Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Segall Bryant & Hamill LLC purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,986 shares of the network equipment provider’s stock, valued at approximately $650,000.

Other large investors have also bought and sold shares of the company. Public Sector Pension Investment Board raised its stake in shares of Cisco Systems by 12.7% during the third quarter. Public Sector Pension Investment Board now owns 175,424 shares of the network equipment provider’s stock valued at $9,336,000 after acquiring an additional 19,800 shares during the last quarter. Vinva Investment Management Ltd increased its holdings in Cisco Systems by 74.7% during the 3rd quarter. Vinva Investment Management Ltd now owns 97,326 shares of the network equipment provider’s stock valued at $5,160,000 after purchasing an additional 41,625 shares during the period. Icon Wealth Advisors LLC raised its position in Cisco Systems by 1.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 49,812 shares of the network equipment provider’s stock valued at $2,651,000 after purchasing an additional 702 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Cisco Systems by 1.9% in the 3rd quarter. Captrust Financial Advisors now owns 1,879,518 shares of the network equipment provider’s stock worth $100,028,000 after buying an additional 34,493 shares during the period. Finally, Fred Alger Management LLC grew its position in shares of Cisco Systems by 4.7% in the 3rd quarter. Fred Alger Management LLC now owns 105,069 shares of the network equipment provider’s stock worth $5,592,000 after buying an additional 4,759 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the sale, the chief executive officer now owns 736,120 shares in the company, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at $11,604,868.80. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock valued at $4,275,553 in the last 90 days. 0.01% of the stock is currently owned by insiders.

Cisco Systems Trading Down 0.9 %

NASDAQ:CSCO opened at $60.86 on Friday. The stock has a market cap of $242.12 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 4.16 and a beta of 0.79. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average price is $62.11 and its 200-day moving average price is $58.47. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results 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 net margin of 16.96% and a return on equity of 26.08%. On average, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its board has approved 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 buy up to 6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently announced 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. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.69%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is currently 71.62%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. The Goldman Sachs Group raised their price target on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Piper Sandler reaffirmed a “neutral” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. increased their target price 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 equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus target price 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.