Van Cleef Asset Management Inc Has $1.70 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Van Cleef Asset Management Inc cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,627 shares of the network equipment provider’s stock after selling 574 shares during the period. Van Cleef Asset Management Inc’s holdings in Cisco Systems were worth $1,695,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Swedbank AB raised its position in Cisco Systems by 0.6% in the third quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock worth $480,555,000 after purchasing an additional 52,711 shares in the last quarter. JFS Wealth Advisors LLC raised its holdings in shares of Cisco Systems by 150.3% in the 3rd quarter. JFS Wealth Advisors LLC now owns 19,872 shares of the network equipment provider’s stock worth $1,058,000 after buying an additional 11,934 shares in the last quarter. Seaside Wealth Management Inc. bought a new stake in Cisco Systems in the third quarter valued at $215,000. Oak Harvest Investment Services lifted its holdings in shares of Cisco Systems by 3.3% during the third quarter. Oak Harvest Investment Services now owns 125,345 shares of the network equipment provider’s stock valued at $6,671,000 after acquiring an additional 3,992 shares during the period. Finally, Cornerstone Wealth Group LLC boosted its stake in shares of Cisco Systems by 5.5% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 8,451 shares of the network equipment provider’s stock valued at $450,000 after purchasing an additional 442 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Trading Down 0.4 %

NASDAQ CSCO opened at $63.81 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The company has a market capitalization of $253.85 billion, a PE ratio of 27.86, a P/E/G ratio of 4.16 and a beta of 0.84. The stock has a 50-day simple moving average of $61.12 and a 200 day simple moving average of $56.66.

Cisco Systems (NASDAQ:CSCO) last announced 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%. Research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The company 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 $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.57%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is currently 71.62%.

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

Analysts Set New Price Targets

CSCO has been the subject of several analyst reports. Rosenblatt Securities raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $66.00 to $80.00 in a report on Thursday, February 13th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group increased their price target on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Finally, Piper Sandler increased 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 investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.63.

Insider Buying and Selling

In other news, EVP Thimaya K. Subaiya sold 3,042 shares of the stock in a transaction on Thursday, December 12th. The shares were 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 owns 207,798 shares of the company’s stock, valued at $12,299,563.62. This represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares in the company, valued at $2,979,515.23. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,848 shares of company stock valued at $4,767,206. 0.01% of the stock is owned by company insiders.

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.