Swedbank AB Sells 7,864,176 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Swedbank AB lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 46.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 8,976,883 shares of the network equipment provider’s stock after selling 7,864,176 shares during the period. Swedbank AB’s holdings in Cisco Systems were worth $426,492,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Delos Wealth Advisors LLC increased its position in shares of Cisco Systems by 1,666.7% during the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after purchasing an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in Cisco Systems in the fourth quarter worth approximately $33,000. Bourgeon Capital Management LLC grew its position in Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 700 shares during the last quarter. Retirement Group LLC raised its stake in shares of Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 263 shares in the last quarter. Finally, Tidemark LLC bought a new stake in shares of Cisco Systems in the 4th quarter worth approximately $41,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CSCO shares. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a report on Thursday. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday. Rosenblatt Securities lifted their price objective on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday. Jefferies Financial Group lowered their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Wells Fargo & Company raised their price target on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $56.70.

Cisco Systems Trading Up 1.9 %

Shares of CSCO traded up $0.93 during trading hours on Friday, reaching $49.46. 27,424,015 shares of the company traded hands, compared to its average volume of 19,935,170. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $58.19. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. The company’s fifty day moving average price is $46.67 and its two-hundred day moving average price is $47.93. The company has a market capitalization of $199.27 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 2.97 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 EPS. Equities research analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the sale, the senior vice president now owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the transaction, the senior vice president now owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 26,331 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value 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 disclosure for this sale can be found here. Insiders have sold 33,090 shares of company stock valued at $1,522,231 in the last three months. 0.02% of the stock is currently owned by company insiders.

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.