Quadrant Capital Group LLC Purchases 2,448 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Quadrant Capital Group LLC boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,624 shares of the network equipment provider’s stock after purchasing an additional 2,448 shares during the period. Quadrant Capital Group LLC’s holdings in Cisco Systems were worth $2,642,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Cisco Systems in the 4th quarter valued at about $3,297,905,000. Raymond James Financial Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $560,722,000. National Bank of Canada FI boosted its holdings in shares of Cisco Systems by 79.6% in the third 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 purchasing an additional 3,975,028 shares during the period. Alliancebernstein L.P. grew its stake in Cisco Systems by 50.3% in the fourth quarter. Alliancebernstein L.P. now owns 6,627,956 shares of the network equipment provider’s stock worth $392,375,000 after purchasing an additional 2,219,311 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Cisco Systems by 18.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 13,880,257 shares of the network equipment provider’s stock worth $821,711,000 after purchasing an additional 2,114,994 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Morgan Stanley upped their target price on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a report on Tuesday, January 28th. Piper Sandler restated a “neutral” rating on shares of Cisco Systems in a report on Thursday, March 6th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Seven equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Insider Activity at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 19,929 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 value of $1,283,626.89. Following the completion of the transaction, the chief financial officer now directly owns 335,605 shares of the company’s stock, valued at approximately $21,616,318.05. The trade was a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $46,474.38. Following the sale, the senior vice president now directly owns 44,155 shares in the company, valued at $2,693,013.45. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,547 shares of company stock worth $4,275,553 over the last three months. Company insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO opened at $54.54 on Friday. The firm has a market capitalization of $216.98 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The company’s fifty day moving average price is $61.91 and its 200-day moving average price is $58.87. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data 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 research analysts predict that Cisco Systems, Inc. will post 3.04 EPS 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 issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

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

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.