Bellecapital International Ltd. Has $3.36 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Bellecapital International Ltd. lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 24.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,451 shares of the network equipment provider’s stock after selling 17,332 shares during the quarter. Bellecapital International Ltd.’s holdings in Cisco Systems were worth $3,360,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Tallon Kerry Patrick bought a new stake in Cisco Systems during the fourth quarter worth about $603,000. Brighton Jones LLC lifted its holdings in shares of Cisco Systems by 49.5% during the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after acquiring an additional 24,562 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Cisco Systems by 37.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after acquiring an additional 2,474 shares in the last quarter. Sapient Capital LLC increased its stake in Cisco Systems by 3.5% in the fourth quarter. Sapient Capital LLC now owns 24,776 shares of the network equipment provider’s stock valued at $1,467,000 after acquiring an additional 839 shares during the last quarter. Finally, Sovran Advisors LLC acquired a new position in Cisco Systems during the fourth quarter valued at approximately $541,000. Institutional investors own 73.33% of the company’s stock.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 9,643 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the sale, the executive vice president now directly owns 181,186 shares of the company’s stock, valued at $11,505,311. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeetendra I. Patel sold 9,961 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the sale, the insider now owns 257,162 shares in the company, valued at $16,450,653.14. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,573 shares of company stock worth $4,392,619 in the last three months. Company insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 1.5%

NASDAQ CSCO opened at $64.19 on Thursday. The stock has a market capitalization of $254.19 billion, a P/E ratio of 28.03, a P/E/G ratio of 4.16 and a beta of 0.88. The business has a 50 day simple moving average of $60.04 and a 200 day simple moving average of $60.49. 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, Inc. has a one year low of $44.50 and a one year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. During the same period in the prior year, the business earned $0.88 EPS. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. Research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.55%. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CSCO. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Wall Street Zen raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. New Street Research restated a “neutral” rating and set a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Piper Sandler raised their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus target price of $68.00.

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.