Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Kendall Capital Management

Kendall Capital Management reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 14.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 29,963 shares of the network equipment provider’s stock after selling 5,051 shares during the period. Kendall Capital Management’s holdings in Cisco Systems were worth $1,774,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Swedbank AB boosted its holdings in shares of Cisco Systems by 0.6% in the third quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock valued at $480,555,000 after acquiring an additional 52,711 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Cisco Systems during the 3rd quarter worth approximately $51,000. Hollencrest Capital Management grew its holdings in Cisco Systems by 2.8% during the 3rd quarter. Hollencrest Capital Management now owns 7,651 shares of the network equipment provider’s stock worth $407,000 after acquiring an additional 208 shares during the last quarter. Fiera Capital Corp grew its holdings in Cisco Systems by 11.2% during the 3rd quarter. Fiera Capital Corp now owns 13,279 shares of the network equipment provider’s stock worth $707,000 after acquiring an additional 1,341 shares during the last quarter. Finally, Leavell Investment Management Inc. grew its holdings in Cisco Systems by 29.8% during the 3rd quarter. Leavell Investment Management Inc. now owns 83,559 shares of the network equipment provider’s stock worth $4,447,000 after acquiring an additional 19,169 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CSCO. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. UBS Group boosted their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Piper Sandler reaffirmed a “neutral” rating on shares of Cisco Systems in a report on Thursday. Wells Fargo & Company restated an “equal weight” rating on shares of Cisco Systems in a report on Thursday. Finally, Citigroup reaffirmed an “overweight” rating on shares of Cisco Systems in a research report on Thursday. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.63.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction 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 sale, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 3,042 shares of Cisco Systems stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total transaction of $180,055.98. Following the completion of the sale, the executive vice president now owns 207,798 shares in the company, valued at $12,299,563.62. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,348 shares of company stock worth $4,318,181. Insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO stock opened at $63.94 on Friday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The stock has a market cap of $254.37 billion, a PE ratio of 27.92, a PEG ratio of 4.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The firm’s 50 day moving average price is $61.63 and its two-hundred day moving average price is $57.39.

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

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.56%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 71.62%.

Cisco Systems declared that its board has authorized a stock repurchase 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 often a sign that the company’s board of directors believes its shares are undervalued.

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.