Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Diligent Investors LLC

Diligent Investors LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,672 shares of the network equipment provider’s stock after selling 286 shares during the quarter. Diligent Investors LLC’s holdings in Cisco Systems were worth $1,638,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. FMR LLC grew its position in shares of Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after buying an additional 13,285,052 shares in the last quarter. Norges Bank acquired a new position in Cisco Systems during the 4th quarter worth approximately $3,297,905,000. Northern Trust Corp increased its position in shares of Cisco Systems by 11.4% in the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider’s stock valued at $2,796,505,000 after purchasing an additional 4,832,813 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Cisco Systems by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock valued at $1,741,597,000 after purchasing an additional 681,555 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Cisco Systems by 12.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,161,261 shares of the network equipment provider’s stock worth $1,015,948,000 after purchasing an additional 1,943,563 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at $2,693,013.45. This represents a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 19,929 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the completion of the transaction, the chief financial officer now directly owns 335,605 shares of the company’s stock, valued at approximately $21,616,318.05. This trade represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,547 shares of company stock valued at $4,275,553 over the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CSCO. UBS Group raised their price target on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Piper Sandler cut their target price on Cisco Systems from $72.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Evercore ISI decreased their target price on Cisco Systems from $75.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, Rosenblatt Securities lowered their target price on shares of Cisco Systems from $80.00 to $63.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and a consensus target price of $65.05.

Cisco Systems Stock Down 0.0 %

CSCO opened at $59.31 on Wednesday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The business has a 50 day moving average price of $59.02 and a two-hundred day moving average price of $59.38. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The company has a market cap of $235.96 billion, a PE ratio of 25.90, a P/E/G ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems announced that its board has approved a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.77%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 3rd. Cisco Systems’s payout ratio is 71.62%.

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.