Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,633,083 shares of the network equipment provider’s stock after selling 19,830 shares during the period. Corient Private Wealth LLC owned approximately 0.07% of Cisco Systems worth $154,832,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp increased its position in Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after purchasing an additional 3,241,682 shares during the period. Geode Capital Management LLC increased its position in 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 period. Charles Schwab Investment Management Inc. increased its position in Cisco Systems by 2.1% during the 3rd 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 purchasing an additional 1,677,383 shares during the period. FMR LLC increased its position in Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after purchasing an additional 5,885,879 shares during the period. Finally, Nordea Investment Management AB increased its position in Cisco Systems by 1.2% during the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock worth $1,107,930,000 after purchasing an additional 216,632 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

CSCO stock opened at $60.50 on Friday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The stock’s fifty day simple moving average is $61.79 and its 200-day simple moving average is $57.75. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $240.69 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79.

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

Cisco Systems declared that its board has approved a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.71%. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,547 shares of company stock valued at $4,275,553. 0.01% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CSCO shares. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Morgan Stanley boosted their price target on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company reissued an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, Piper Sandler reissued a “neutral” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Cisco Systems 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.