Cisco Systems, Inc. (NASDAQ:CSCO) Stock Holdings Decreased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 35.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 432,588 shares of the network equipment provider’s stock after selling 236,275 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Cisco Systems were worth $21,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of CSCO. Kathleen S. Wright Associates Inc. acquired a new stake in Cisco Systems in the 3rd quarter valued at $27,000. Valued Wealth Advisors LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth $32,000. Morton Brown Family Wealth LLC lifted its stake in Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 208 shares in the last quarter. Bourgeon Capital Management LLC boosted its stake in shares of Cisco Systems by 3,500.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after buying an additional 700 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new position in Cisco Systems during the fourth quarter worth $43,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Down 0.4 %

CSCO traded down $0.18 during trading hours on Monday, hitting $48.14. 20,131,136 shares of the company’s stock were exchanged, compared to its average volume of 19,517,379. The firm has a market cap of $194.93 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 2.77 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, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19. The firm has a 50 day moving average of $49.03 and a 200 day moving average of $50.17.

Cisco Systems (NASDAQ:CSCO) last issued its 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 analysts’ expectations of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.76 EPS. Analysts predict that Cisco Systems, Inc. will post 3.14 EPS 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 paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 3.32%. Cisco Systems’s payout ratio is currently 48.63%.

Insider Activity

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cisco Systems news, 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 transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the SEC, 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 completion of the sale, the executive vice president now directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,441 shares of company stock valued at $972,080. Insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. UBS Group increased their target price on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Piper Sandler lifted their price objective on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Morgan Stanley assumed coverage on Cisco Systems in a report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price objective for the company. Finally, StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $55.53.

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.