Intech Investment Management LLC Sells 132,863 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Intech Investment Management LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 20.4% in the fourth quarter, HoldingsChannel reports. The firm owned 519,365 shares of the network equipment provider’s stock after selling 132,863 shares during the quarter. Intech Investment Management LLC’s holdings in Cisco Systems were worth $30,746,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CSCO. FPC Investment Advisory Inc. bought a new position in shares of Cisco Systems during the 4th quarter valued at approximately $26,000. Campbell Capital Management Inc. bought a new position in shares of Cisco Systems during the 4th quarter valued at approximately $31,000. Highline Wealth Partners LLC grew its position in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 260 shares during the period. Synergy Investment Management LLC bought a new position in shares of Cisco Systems during the 4th quarter valued at approximately $36,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems during the 3rd quarter valued at approximately $40,000. 73.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CSCO. Citigroup restated an “overweight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a research note on Tuesday, January 28th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Piper Sandler reiterated a “neutral” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, StockNews.com cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.63.

Cisco Systems Trading Up 0.6 %

CSCO stock opened at $60.89 on Tuesday. The firm has a fifty day moving average price of $61.83 and a 200 day moving average price of $57.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. 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 has a market cap of $242.24 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) 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%. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a $0.41 dividend. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 2.69%. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

Cisco Systems announced that its board has approved a stock buyback plan 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 buy up to 6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares in the company, valued at $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock worth $4,275,553 over the last three months. 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.