Victory Capital Management Inc. Sells 169,510 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Victory Capital Management Inc. lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% in the 4th quarter, Holdings Channel reports. The firm owned 7,478,192 shares of the network equipment provider’s stock after selling 169,510 shares during the quarter. Victory Capital Management Inc.’s holdings in Cisco Systems were worth $377,798,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Kathleen S. Wright Associates Inc. purchased a new position in Cisco Systems in the third quarter worth $27,000. Valued Wealth Advisors LLC bought a new stake in Cisco Systems in the 4th quarter worth approximately $32,000. Morton Brown Family Wealth LLC boosted its stake in Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after buying an additional 208 shares in the last quarter. Bourgeon Capital Management LLC grew its position in Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 700 shares during the last quarter. Finally, Rakuten Securities Inc. purchased a new position in shares of Cisco Systems during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CSCO shares. Morgan Stanley assumed coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. UBS Group boosted their target price on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Barclays lifted their price target on Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $55.53.

Cisco Systems Stock Up 0.5 %

Shares of NASDAQ:CSCO traded up $0.23 on Wednesday, hitting $47.21. 5,532,288 shares of the company traded hands, compared to its average volume of 19,082,344. The stock has a 50 day simple moving average of $48.90 and a 200-day simple moving average of $49.92. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The company has a market cap of $191.16 billion, a PE ratio of 14.28, a PEG ratio of 2.76 and a beta of 0.87. Cisco Systems, Inc. has a 52 week low of $45.56 and a 52 week high of $58.19.

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, topping the consensus estimate of $0.84 by $0.03. The firm had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 earnings per share. As a group, research analysts expect that Cisco Systems, Inc. will post 3.13 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were issued a dividend of $0.40 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend was Wednesday, April 3rd. Cisco Systems’s dividend payout ratio is presently 48.63%.

Insider Activity at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the company’s 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 transaction, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 shares were 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 in the company, valued at approximately $2,906,050. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Richard Scott Herren sold 13,942 shares of the 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 $16,424,550. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock valued at $972,080 over the last ninety days. Insiders own 0.02% of the company’s stock.

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.