Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Mcdonald Partners LLC

Mcdonald Partners LLC trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 58,491 shares of the network equipment provider’s stock after selling 1,788 shares during the period. Mcdonald Partners LLC’s holdings in Cisco Systems were worth $3,463,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its stake in shares of Cisco Systems by 1.7% during the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after acquiring an additional 3,241,682 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Cisco Systems by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after purchasing an additional 1,262,017 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Cisco Systems by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after buying an additional 1,677,383 shares in the last quarter. FMR LLC raised its position in shares of Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after buying an additional 5,885,879 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Cisco Systems by 1.2% during the fourth quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock valued at $1,107,930,000 after buying an additional 216,632 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSCO has been the subject of several recent analyst reports. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Citigroup lifted their price objective on Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Barclays increased their target price on Cisco Systems from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. Morgan Stanley lifted their price target on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Piper Sandler increased their price objective on shares of Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.53.

Cisco Systems Trading Up 1.6 %

CSCO opened at $64.87 on Tuesday. The firm has a market capitalization of $258.36 billion, a P/E ratio of 27.84, a P/E/G ratio of 4.63 and a beta of 0.84. The firm’s 50 day moving average is $60.19 and its 200-day moving average is $55.76. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued 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 return on equity of 25.70% and a net margin of 17.73%. Analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Cisco Systems declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the sale, the executive vice president now owns 213,834 shares in the company, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the completion of the transaction, the senior vice president now owns 51,931 shares of the company’s stock, valued at $3,101,838.63. This trade represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,239 shares of company stock valued at $2,166,612 in the last three months. Corporate insiders own 0.01% of the company’s stock.

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.