Alexander Randolph Advisory Inc. Invests $2.85 Million in Cisco Systems, Inc. (NASDAQ:CSCO)

Alexander Randolph Advisory Inc. bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 56,492 shares of the network equipment provider’s stock, valued at approximately $2,854,000. Cisco Systems accounts for 2.6% of Alexander Randolph Advisory Inc.’s investment portfolio, making the stock its 14th largest holding.

Other hedge funds also recently made changes to their positions in the company. Delta Investment Management LLC raised its stake in Cisco Systems by 33.1% in the 4th quarter. Delta Investment Management LLC now owns 15,699 shares of the network equipment provider’s stock valued at $793,000 after acquiring an additional 3,902 shares during the period. Headlands Technologies LLC bought a new stake in Cisco Systems in the 4th quarter valued at about $543,000. Citizens Financial Group Inc. RI raised its stake in Cisco Systems by 38.5% in the 4th quarter. Citizens Financial Group Inc. RI now owns 220,201 shares of the network equipment provider’s stock valued at $11,125,000 after acquiring an additional 61,182 shares during the period. Heritage Financial Services LLC raised its stake in Cisco Systems by 18.2% in the 4th quarter. Heritage Financial Services LLC now owns 6,207 shares of the network equipment provider’s stock valued at $314,000 after acquiring an additional 955 shares during the period. Finally, Spinnaker Trust raised its stake in Cisco Systems by 1.4% in the 4th quarter. Spinnaker Trust now owns 78,380 shares of the network equipment provider’s stock valued at $3,960,000 after acquiring an additional 1,054 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

NASDAQ:CSCO traded down $0.24 during mid-day trading on Friday, reaching $47.86. The stock had a trading volume of 14,658,910 shares, compared to its average volume of 16,851,638. The firm has a 50 day moving average price of $48.94 and a two-hundred day moving average price of $50.04. The stock has a market capitalization of $193.79 billion, a P/E ratio of 14.55, a P/E/G ratio of 2.76 and a beta of 0.87. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. Cisco Systems’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS. As a group, analysts expect that Cisco Systems, Inc. will post 3.13 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were given a $0.40 dividend. The ex-dividend date was Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.34%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is presently 48.63%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CSCO shares. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Melius Research reaffirmed a “hold” rating and set a $55.00 target price on shares of Cisco Systems in a report on Monday, January 8th. Wells Fargo & Company initiated coverage on Cisco Systems in a report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 target price for the company. Citigroup initiated coverage on Cisco Systems in a report on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. Finally, Piper Sandler lifted their target price on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $55.53.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the sale, the senior vice president now owns 58,121 shares in the company, valued at $2,906,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is currently owned by insiders.

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.