Flputnam Investment Management Co. Sells 14,212 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Flputnam Investment Management Co. decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.7% in the 4th quarter, HoldingsChannel reports. The firm owned 237,032 shares of the network equipment provider’s stock after selling 14,212 shares during the quarter. Flputnam Investment Management Co.’s holdings in Cisco Systems were worth $11,975,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CSCO. State Street Corp raised its stake in Cisco Systems by 2.2% during the first quarter. State Street Corp now owns 184,879,450 shares of the network equipment provider’s stock worth $9,664,544,000 after acquiring an additional 4,061,022 shares in the last quarter. Morgan Stanley raised its stake in Cisco Systems by 17.4% during the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock worth $2,943,593,000 after acquiring an additional 9,160,347 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in Cisco Systems by 112,307.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock worth $2,835,509,000 after acquiring an additional 59,466,550 shares in the last quarter. FMR LLC raised its stake in Cisco Systems by 3.2% during the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock worth $3,069,815,000 after acquiring an additional 1,790,717 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Cisco Systems by 6.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock worth $2,975,139,000 after acquiring an additional 3,087,294 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Citigroup assumed coverage on Cisco Systems in a research note on Friday. They issued a “neutral” rating and a $52.00 price objective for the company. Wells Fargo & Company assumed coverage on Cisco Systems in a research note on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price objective for the company. Piper Sandler upped their price objective on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Melius downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Melius Research reaffirmed a “hold” rating and issued a $55.00 price objective on shares of Cisco Systems in a research note on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.03.

Insiders Place Their Bets

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were 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 directly owns 328,491 shares in the company, valued at $16,424,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now directly 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 can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is currently owned by company insiders.

Cisco Systems Trading Down 0.5 %

Shares of CSCO stock traded down $0.25 during trading hours on Monday, hitting $48.24. 20,217,068 shares of the company were exchanged, compared to its average volume of 19,724,402. The company has a 50 day simple moving average of $49.25 and a two-hundred day simple moving average of $50.41. The firm has a market cap of $195.33 billion, a P/E ratio of 14.67, a P/E/G ratio of 2.78 and a beta of 0.87. 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, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The business had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period last year, the company posted $0.76 earnings per share. Equities analysts anticipate that Cisco Systems, Inc. will post 3.15 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently declared 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. This represents a $1.60 dividend on an annualized basis and a yield of 3.32%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 48.63%.

Cisco Systems Company 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.