Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Sfmg LLC

Sfmg LLC boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 21.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 110,215 shares of the network equipment provider’s stock after purchasing an additional 19,545 shares during the quarter. Cisco Systems accounts for 0.5% of Sfmg LLC’s holdings, making the stock its 25th largest holding. Sfmg LLC’s holdings in Cisco Systems were worth $5,568,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CSCO. State Street Corp increased its position in Cisco Systems by 2.2% during the 1st quarter. State Street Corp now owns 184,879,450 shares of the network equipment provider’s stock worth $9,664,544,000 after purchasing an additional 4,061,022 shares in the last quarter. Morgan Stanley increased its position in shares of Cisco Systems by 17.4% in the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock worth $2,943,593,000 after acquiring an additional 9,160,347 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of Cisco Systems by 112,307.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock valued at $2,835,509,000 after acquiring an additional 59,466,550 shares during the period. FMR LLC lifted its holdings in shares of Cisco Systems by 3.2% during the 3rd quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock valued at $3,069,815,000 after acquiring an additional 1,790,717 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Cisco Systems by 6.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock valued at $2,975,139,000 after purchasing an additional 3,087,294 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the topic of a number of recent research reports. Citigroup began coverage on Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective on the stock. Melius Research reaffirmed a “hold” rating and issued a $55.00 price objective on shares of Cisco Systems in a research report on Monday, January 8th. Piper Sandler boosted their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Melius lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $56.03.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded down $0.15 on Wednesday, reaching $47.77. 3,530,060 shares of the company’s stock were exchanged, compared to its average volume of 19,428,676. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19. The business’s 50-day moving average is $49.18 and its two-hundred day moving average is $50.32. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $193.43 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 2.73 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The firm had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. Cisco Systems’s revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the company posted $0.76 earnings per share. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.19 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be paid a dividend of $0.40 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Wednesday, April 3rd. Cisco Systems’s dividend payout ratio is presently 48.63%.

Insiders Place Their Bets

In other news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock valued at $972,080 over the last three months. Company insiders own 0.02% of the company’s stock.

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.