Cisco Systems, Inc. (NASDAQ:CSCO) is RWC Asset Management LLP’s 5th Largest Position

RWC Asset Management LLP cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 861,276 shares of the network equipment provider’s stock after selling 38,844 shares during the quarter. Cisco Systems makes up 2.7% of RWC Asset Management LLP’s investment portfolio, making the stock its 5th largest holding. RWC Asset Management LLP’s holdings in Cisco Systems were worth $53,149,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Navigoe LLC purchased a new stake in shares of Cisco Systems during the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Cisco Systems during the 4th quarter valued at $26,000. JDM Financial Group LLC increased its position in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after purchasing an additional 300 shares during the last quarter. Fairway Wealth LLC increased its position in shares of Cisco Systems by 224.7% during the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 400 shares during the last quarter. Finally, Accredited Wealth Management LLC purchased a new stake in shares of Cisco Systems during the 4th quarter valued at $37,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSCO has been the subject of several research reports. Wolfe Research initiated coverage on Cisco Systems in a research note on Tuesday, July 8th. They set a “peer perform” rating for the company. Rosenblatt Securities increased their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. KeyCorp initiated coverage on Cisco Systems in a research note on Thursday, June 26th. They set an “overweight” rating and a $77.00 price target for the company. Wall Street Zen downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. Finally, JPMorgan Chase & Co. increased their price target on Cisco Systems from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and an average price target of $70.35.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $68.69 on Friday. The business’s 50-day moving average price is $66.43 and its two-hundred day moving average price is $62.44. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78. The stock has a market cap of $272.01 billion, a P/E ratio of 28.04, a PEG ratio of 4.11 and a beta of 0.90. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter last year, the firm posted $0.88 EPS. The company’s revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were issued a $0.41 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.39%. Cisco Systems’s payout ratio is currently 66.94%.

Insider Transactions at Cisco Systems

In related news, insider Jeetendra I. Patel sold 899 shares of the firm’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the transaction, the insider directly owned 255,377 shares of the company’s stock, valued at approximately $16,413,079.79. This trade represents a 0.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total value of $48,821.34. Following the transaction, the senior vice president directly owned 36,937 shares in the company, valued at approximately $2,366,553.59. This represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by insiders.

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.