PFG Investments LLC Sells 552 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

PFG Investments LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,765 shares of the network equipment provider’s stock after selling 552 shares during the period. Cisco Systems makes up 0.7% of PFG Investments LLC’s portfolio, making the stock its 19th biggest position. PFG Investments LLC’s holdings in Cisco Systems were worth $3,828,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. United Bank acquired a new stake in shares of Cisco Systems during the first quarter worth about $645,000. Mirae Asset Global Investments Co. Ltd. raised its position in Cisco Systems by 32.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider’s stock valued at $236,593,000 after buying an additional 1,040,607 shares during the last quarter. Roundview Capital LLC raised its position in Cisco Systems by 13.1% in the 1st quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider’s stock valued at $588,000 after buying an additional 1,221 shares during the last quarter. Merit Financial Group LLC raised its position in Cisco Systems by 21.5% in the 1st quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider’s stock valued at $656,000 after buying an additional 2,079 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in Cisco Systems by 8.1% in the 1st quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider’s stock valued at $135,470,000 after buying an additional 182,857 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded down $0.13 during midday trading on Tuesday, hitting $49.55. 13,001,850 shares of the company’s stock were exchanged, compared to its average volume of 20,009,225. The company’s 50 day moving average price is $49.80 and its 200 day moving average price is $50.99. The firm has a market capitalization of $200.64 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 2.25 and a beta of 0.87. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.03. The business 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%. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 EPS. As a group, analysts predict that Cisco Systems, Inc. will post 3.16 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 3.23%. Cisco Systems’s payout ratio is currently 47.42%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction 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 transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock valued at $972,080 in the last three months. Corporate insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CSCO shares. Melius lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. UBS Group lifted their target price on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Barclays lifted their target price on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Piper Sandler raised their price target on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Finally, StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $56.42.

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.