Cisco Systems, Inc. $CSCO Shares Sold by US Bancorp DE

US Bancorp DE cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,754,419 shares of the network equipment provider’s stock after selling 68,203 shares during the period. US Bancorp DE’s holdings in Cisco Systems were worth $289,203,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Marquette Asset Management LLC acquired a new position in Cisco Systems in the third quarter worth about $25,000. Board of the Pension Protection Fund acquired a new position in Cisco Systems in the fourth quarter worth about $31,000. Cedar Mountain Advisors LLC grew its stake in Cisco Systems by 115.7% in the third quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider’s stock worth $32,000 after purchasing an additional 251 shares in the last quarter. Holos Integrated Wealth LLC acquired a new position in Cisco Systems in the fourth quarter worth about $41,000. Finally, eCIO Inc. acquired a new position in Cisco Systems in the fourth quarter worth about $46,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on CSCO. Argus upgraded Cisco Systems to a “strong-buy” rating in a research note on Friday, February 13th. Truist Financial began coverage on Cisco Systems in a research note on Tuesday, March 31st. They issued a “buy” rating and a $94.00 price target for the company. BNP Paribas Exane lifted their price target on Cisco Systems from $86.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Wall Street Zen downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Erste Group Bank downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.81.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $89.57 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average of $81.20 and a two-hundred day moving average of $77.83. Cisco Systems, Inc. has a 52 week low of $56.46 and a 52 week high of $90.45. The company has a market cap of $353.79 billion, a P/E ratio of 31.43, a PEG ratio of 3.33 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The company had revenue of $15.35 billion during the quarter, compared to the consensus estimate of $15.11 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. Cisco Systems’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, analysts anticipate that Cisco Systems, Inc. will post 3.4 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, April 2nd. Cisco Systems’s dividend payout ratio is presently 58.95%.

Insider Activity at Cisco Systems

In other news, SVP Maria Victoria Wong sold 551 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $77.54, for a total transaction of $42,724.54. Following the sale, the senior vice president owned 27,957 shares of the company’s stock, valued at approximately $2,167,785.78. The trade was a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,744 shares of Cisco Systems stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $77.07, for a total value of $134,410.08. Following the sale, the executive vice president directly owned 156,693 shares in the company, valued at approximately $12,076,329.51. This trade represents a 1.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 46,431 shares of company stock valued at $3,574,820. Company insiders own 0.01% of the company’s stock.

About Cisco Systems

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.