Stonnington Group LLC Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Stonnington Group LLC lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 43.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,860 shares of the network equipment provider’s stock after selling 5,988 shares during the period. Stonnington Group LLC’s holdings in Cisco Systems were worth $416,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CSCO. BlackRock Inc. lifted its stake in shares of Cisco Systems by 3.5% in the fourth quarter. BlackRock Inc. now owns 350,404,388 shares of the network equipment provider’s stock worth $22,205,126,000 after buying an additional 11,804,677 shares in the last quarter. State Street Corp raised its holdings in shares of Cisco Systems by 3.2% during the fourth quarter. State Street Corp now owns 186,125,154 shares of the network equipment provider’s stock valued at $11,794,751,000 after purchasing an additional 5,730,165 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cisco Systems by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 73,136,734 shares of the network equipment provider’s stock valued at $4,623,101,000 after purchasing an additional 1,380,066 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Cisco Systems by 0.3% during the fourth quarter. Northern Trust Corp now owns 55,173,669 shares of the network equipment provider’s stock valued at $3,496,355,000 after purchasing an additional 183,779 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Cisco Systems by 4.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 50,268,847 shares of the network equipment provider’s stock valued at $3,185,537,000 after purchasing an additional 2,336,314 shares during the last quarter. 73.18% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have commented on CSCO. TheStreet cut shares of Cisco Systems from a “b” rating to a “c+” rating in a report on Wednesday, June 15th. Piper Sandler reduced their target price on shares of Cisco Systems from $57.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, May 19th. Morgan Stanley reduced their target price on shares of Cisco Systems from $59.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, May 19th. UBS Group reduced their target price on shares of Cisco Systems from $59.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, May 19th. Finally, Cowen reduced their target price on shares of Cisco Systems to $58.00 and set a “neutral” rating for the company in a report on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $55.05.

In related news, CEO Charles Robbins sold 12,717 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $43.79, for a total value of $556,877.43. Following the transaction, the chief executive officer now owns 651,577 shares of the company’s stock, valued at approximately $28,532,556.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Prat Bhatt sold 607 shares of the firm’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $43.10, for a total transaction of $26,161.70. Following the completion of the transaction, the senior vice president now directly owns 79,855 shares in the company, valued at approximately $3,441,750.50. The disclosure for this sale can be found here. Insiders sold a total of 25,326 shares of company stock valued at $1,103,159 in the last 90 days. Company insiders own 0.02% of the company’s stock.

CSCO stock opened at $43.57 on Thursday. Cisco Systems, Inc. has a 52 week low of $41.02 and a 52 week high of $64.29. The company has a quick ratio of 1.40, a current ratio of 1.49 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $47.24 and a two-hundred day simple moving average of $53.77. The firm has a market capitalization of $180.42 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 2.27 and a beta of 0.99.

Cisco Systems (NASDAQ:CSCO – Get Rating) last released its quarterly earnings data on Wednesday, May 18th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.86 by $0.01. Cisco Systems had a net margin of 23.28% and a return on equity of 31.22%. During the same quarter last year, the company earned $0.75 earnings per share. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.99 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 6th will be issued a $0.38 dividend. The ex-dividend date is Tuesday, July 5th. This represents a $1.52 annualized dividend and a dividend yield of 3.49%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.33%.

About Cisco Systems (Get Rating)

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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