Twin Capital Management Inc. Cuts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Twin Capital Management Inc. lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,276 shares of the network equipment provider’s stock after selling 8,563 shares during the quarter. Cisco Systems accounts for about 0.7% of Twin Capital Management Inc.’s portfolio, making the stock its 27th largest position. Twin Capital Management Inc.’s holdings in Cisco Systems were worth $5,521,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Wealthspire Advisors LLC increased its holdings in Cisco Systems by 48.1% in the third quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock valued at $3,838,000 after buying an additional 23,194 shares during the last quarter. HBK Sorce Advisory LLC grew its holdings in shares of Cisco Systems by 0.5% during the third quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock worth $3,448,000 after purchasing an additional 301 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Cisco Systems during the fourth quarter worth about $28,685,000. Adage Capital Partners GP L.L.C. grew its holdings in shares of Cisco Systems by 1.1% during the third quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock worth $240,335,000 after purchasing an additional 49,700 shares during the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC grew its holdings in shares of Cisco Systems by 0.6% during the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock worth $9,734,000 after purchasing an additional 1,097 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CSCO shares. Wells Fargo & Company started coverage on shares of Cisco Systems in a research note on Thursday, February 15th. They set an “equal weight” rating and a $52.00 target price for the company. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $60.00 in a research note on Monday. Piper Sandler increased their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Morgan Stanley began coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price for the company. Finally, Melius downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and an average target price of $56.03.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares in the company, valued at approximately $9,579,865.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the sale, 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 the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the sale, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Trading Up 0.5 %

Shares of CSCO traded up $0.22 during mid-day trading on Thursday, reaching $48.01. The company had a trading volume of 5,236,443 shares, compared to its average volume of 19,384,512. The stock has a market cap of $194.40 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 2.75 and a beta of 0.87. The firm has a fifty day simple moving average of $49.14 and a 200-day simple moving average of $50.31. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. The business had revenue of $12.79 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted $0.76 EPS. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be issued a dividend of $0.40 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.33%. Cisco Systems’s payout ratio is presently 48.63%.

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.