Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Dodge & Cox

Dodge & Cox lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 23,738,670 shares of the network equipment provider’s stock after selling 82,877 shares during the period. Dodge & Cox’s holdings in Cisco Systems were worth $1,405,329,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. purchased a new position in Cisco Systems during the 4th quarter worth approximately $30,000. Campbell Capital Management Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter valued at $31,000. Highline Wealth Partners LLC grew its holdings in shares of Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 260 shares in the last quarter. Finally, Synergy Investment Management LLC acquired a new position in Cisco Systems during the fourth quarter valued at $36,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Up 0.1 %

CSCO stock opened at $57.41 on Tuesday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The company has a market cap of $228.39 billion, a price-to-earnings ratio of 25.07, a P/E/G ratio of 4.16 and a beta of 0.86. 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 business has a 50 day moving average price of $61.19 and a two-hundred day moving average price of $59.08.

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

Cisco Systems declared that its board has approved a share repurchase program on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a $0.41 dividend. 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. This represents a $1.64 annualized dividend and a yield of 2.86%. Cisco Systems’s dividend payout ratio is currently 71.62%.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. This represents a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the transaction, the chief executive officer now directly owns 736,120 shares in the company, valued at $47,413,489.20. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CSCO shares. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Citigroup decreased their price objective on shares of Cisco Systems from $73.00 to $68.00 and set a “buy” rating for the company in a report on Monday. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Piper Sandler reduced their target price on Cisco Systems from $72.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Finally, Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Seven investment 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 stock. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.74.

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.