Point72 Asia Singapore Pte. Ltd. Makes New Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 134,966 shares of the network equipment provider’s stock, valued at approximately $7,990,000. Cisco Systems comprises approximately 2.1% of Point72 Asia Singapore Pte. Ltd.’s holdings, making the stock its 7th biggest position.

A number of other large investors have also recently added to or reduced their stakes in CSCO. FPC Investment Advisory Inc. purchased a new position in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Navigoe LLC purchased a new stake in shares of Cisco Systems in the fourth quarter valued at $26,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter valued at $30,000. Campbell Capital Management Inc. purchased a new stake in Cisco Systems during the 4th quarter worth about $31,000. Finally, Synergy Investment Management LLC acquired a new position in Cisco Systems in the 4th quarter valued at about $36,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Down 0.8%

Shares of NASDAQ CSCO opened at $61.29 on Thursday. The stock has a fifty day moving average price of $58.65 and a 200 day moving average price of $59.54. The company has a market cap of $243.83 billion, a P/E ratio of 26.76, a P/E/G ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. 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 earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.91 by $0.05. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. During the same period last year, the business posted $0.88 EPS. Research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.68%. Cisco Systems’s dividend payout ratio (DPR) is presently 71.62%.

Cisco Systems announced that its board has authorized a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CSCO shares. Evercore ISI cut their price objective on shares of Cisco Systems from $75.00 to $67.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. Rosenblatt Securities lowered their price objective on Cisco Systems from $80.00 to $63.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. The Goldman Sachs Group upped their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Piper Sandler lowered their target price on shares of Cisco Systems from $72.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.05.

Insider Activity at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07% 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 762 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the sale, the senior vice president now directly owns 44,155 shares in the company, valued at approximately $2,693,013.45. The trade was a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,547 shares of company stock valued at $4,275,553. Corporate insiders own 0.01% of the company’s stock.

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.