Ninety One UK Ltd Buys 4,106 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Ninety One UK Ltd boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 272,994 shares of the network equipment provider’s stock after acquiring an additional 4,106 shares during the quarter. Ninety One UK Ltd’s holdings in Cisco Systems were worth $13,792,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard Scott Herren sold 13,942 shares of the company’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 transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,441 shares of company stock valued at $972,080. Insiders own 0.02% of the company’s stock.

Cisco Systems Trading Up 0.7 %

Shares of Cisco Systems stock opened at $48.11 on Friday. The stock has a fifty day simple moving average of $49.11 and a 200 day simple moving average of $50.29. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19. The company has a market capitalization of $194.81 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 2.74 and a beta of 0.87. 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 issued its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. During the same period in the prior year, the firm posted $0.76 EPS. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be given a $0.40 dividend. The ex-dividend date is Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.33%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is currently 48.63%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Tuesday, April 9th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $55.00 to $60.00 in a research report on Monday. Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Piper Sandler increased their price objective on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Finally, Citigroup started coverage on shares of Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective for the company. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $56.03.

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.