Cisco Systems, Inc. (NASDAQ:CSCO) Stock Position Trimmed by Janus Henderson Group PLC

Janus Henderson Group PLC cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,687,382 shares of the network equipment provider’s stock after selling 16,567 shares during the quarter. Janus Henderson Group PLC owned about 0.07% of Cisco Systems worth $159,026,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Mainstream Capital Management LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth about $132,000. Proficio Capital Partners LLC raised its position in shares of Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock worth $1,003,000 after buying an additional 7,338 shares in the last quarter. CENTRAL TRUST Co raised its position in shares of Cisco Systems by 4.8% during the 4th quarter. CENTRAL TRUST Co now owns 112,101 shares of the network equipment provider’s stock worth $6,636,000 after buying an additional 5,123 shares in the last quarter. Requisite Capital Management LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth about $1,670,000. Finally, Stonegate Investment Group LLC raised its position in shares of Cisco Systems by 0.8% during the 4th quarter. Stonegate Investment Group LLC now owns 1,539,557 shares of the network equipment provider’s stock worth $91,142,000 after buying an additional 11,506 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Performance

Cisco Systems stock opened at $61.67 on Tuesday. The firm’s 50 day simple moving average is $58.73 and its 200-day simple moving average is $59.51. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The company has a market cap of $245.34 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

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

Cisco Systems announced that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 2.66%. Cisco Systems’s payout ratio is presently 71.62%.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares in the company, valued at $47,413,489.20. The trade was a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems stock in a transaction that occurred on 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 sale, the chief financial officer now owns 335,605 shares of the company’s stock, valued at $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. Over the last three months, insiders have sold 66,547 shares of company stock valued at $4,275,553. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CSCO. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a research report on Tuesday, January 28th. Piper Sandler lowered their price objective on shares of Cisco Systems from $72.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Finally, UBS Group lifted their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.05.

About Cisco Systems

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.