Wright Investors Service Inc. Sells 48,080 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Wright Investors Service Inc. lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 32.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 99,934 shares of the network equipment provider’s stock after selling 48,080 shares during the period. Cisco Systems makes up approximately 1.4% of Wright Investors Service Inc.’s holdings, making the stock its 14th biggest position. Wright Investors Service Inc.’s holdings in Cisco Systems were worth $5,049,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CSCO. State Street Corp lifted its stake in shares of Cisco Systems by 2.2% in 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 during the period. Morgan Stanley lifted its stake in shares of Cisco Systems by 17.4% in the 4th quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock worth $2,943,593,000 after purchasing an additional 9,160,347 shares during the period. Moneta Group Investment Advisors LLC lifted 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 worth $2,835,509,000 after purchasing an additional 59,466,550 shares during the period. FMR LLC lifted its stake in shares of Cisco Systems by 3.2% in the 3rd quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock worth $3,069,815,000 after purchasing an additional 1,790,717 shares during the period. 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 worth $2,975,139,000 after acquiring an additional 3,087,294 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CSCO. UBS Group increased their target price on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Piper Sandler raised their price target on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Wells Fargo & Company started coverage on Cisco Systems in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $56.03.

Cisco Systems Stock Up 0.7 %

Shares of CSCO stock traded up $0.32 during trading hours on Thursday, reaching $48.11. 3,453,833 shares of the company’s stock were exchanged, compared to its average volume of 19,362,295. Cisco Systems, Inc. has a 1 year low of $45.56 and a 1 year high of $58.19. The stock has a market cap of $194.81 billion, a PE ratio of 14.63, a PEG ratio of 2.75 and a beta of 0.87. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average price is $49.14 and its two-hundred day moving average price is $50.31.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The business had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The company’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 earnings per share. Research analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently announced 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 a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.33%. Cisco Systems’s dividend payout ratio is presently 48.63%.

Insider Buying and Selling

In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares in the company, valued at approximately $9,579,865.59. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 191,559 shares in the company, valued at approximately $9,579,865.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,441 shares of company stock valued at $972,080. Corporate insiders own 0.02% of the company’s stock.

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.