Garrison Point Advisors LLC Has $987,000 Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Garrison Point Advisors LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,669 shares of the network equipment provider’s stock after selling 500 shares during the period. Garrison Point Advisors LLC’s holdings in Cisco Systems were worth $987,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Cisco Systems in the 4th quarter valued at $3,297,905,000. Raymond James Financial Inc. bought a new position in shares of Cisco Systems during the fourth quarter worth approximately $560,722,000. National Bank of Canada FI raised its position 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 buying an additional 3,975,028 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of 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 valued at $392,375,000 after buying an additional 2,219,311 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in Cisco Systems by 18.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 13,880,257 shares of the network equipment provider’s stock worth $821,711,000 after buying an additional 2,114,994 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on CSCO shares. 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 report on Thursday, February 13th. The Goldman Sachs Group raised their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Piper Sandler reaffirmed a “neutral” rating on shares of Cisco Systems in a report on Thursday, March 6th. Melius raised shares of 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 note on Monday, January 6th. Finally, BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a research note on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 31,983 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were 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 of the company’s stock, valued at $47,413,489.20. This represents a 4.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 of the company’s stock, valued at approximately $11,604,868.80. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,547 shares of company stock worth $4,275,553 in the last quarter. Insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 4.8 %

NASDAQ:CSCO opened at $54.54 on Friday. The firm has a fifty day simple moving average of $61.91 and a two-hundred day simple moving average of $58.87. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The stock has a market capitalization of $216.98 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 4.16 and a beta of 0.86. 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 (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (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%. Analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

Cisco Systems announced that its board has initiated a stock repurchase program 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 reacquire up to 6% of its stock through open market purchases. Stock buyback 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.