Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 294,475 shares of the network equipment provider’s stock after selling 8,914 shares during the quarter. Ninety One UK Ltd’s holdings in Cisco Systems were worth $13,991,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in Cisco Systems by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after acquiring an additional 6,345,954 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Cisco Systems by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 68,463,463 shares of the network equipment provider’s stock worth $3,417,011,000 after acquiring an additional 2,386,508 shares during the period. Norges Bank acquired a new position in Cisco Systems during the fourth quarter worth $2,528,939,000. Wellington Management Group LLP boosted its position in Cisco Systems by 7.6% during the fourth quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock worth $2,384,334,000 after purchasing an additional 3,314,330 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Cisco Systems by 12.3% in the fourth quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock valued at $1,260,033,000 after purchasing an additional 2,723,260 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Up 0.3 %

Cisco Systems stock traded up $0.13 during trading on Tuesday, reaching $50.11. 5,092,772 shares of the company’s stock were exchanged, compared to its average volume of 19,820,549. The company’s 50-day moving average is $46.82 and its two-hundred day moving average is $47.86. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $58.19. The firm has a market cap of $201.88 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 2.97 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 earnings per share. On average, analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.19%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Maria Victoria Wong sold 3,378 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the sale, the senior vice president now directly owns 52,953 shares of the company’s stock, valued at $2,430,013.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the transaction, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The disclosure for this sale can be found here. Insiders have sold 33,090 shares of company stock worth $1,522,231 in the last quarter. 0.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on CSCO. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research note on Thursday, August 15th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Barclays dropped their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.89.

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.