Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 21.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 42,991,277 shares of the network equipment provider’s stock after selling 11,628,554 shares during the quarter. Wellington Management Group LLP’s holdings in Cisco Systems were worth $2,545,084,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. O Shaughnessy Asset Management LLC lifted its holdings in Cisco Systems by 22.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 595,010 shares of the network equipment provider’s stock worth $35,225,000 after purchasing an additional 109,526 shares during the period. Walled Lake Planning & Wealth Management LLC raised its position in shares of Cisco Systems by 0.9% during the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 124,552 shares of the network equipment provider’s stock worth $7,373,000 after buying an additional 1,099 shares in the last quarter. United Bank lifted its stake in shares of Cisco Systems by 5.6% in the 4th quarter. United Bank now owns 29,908 shares of the network equipment provider’s stock worth $1,771,000 after acquiring an additional 1,589 shares during the period. Physician Wealth Advisors Inc. bought a new position in shares of Cisco Systems in the fourth quarter valued at approximately $181,000. Finally, RWA Wealth Partners LLC raised its position in Cisco Systems by 6.8% in the fourth quarter. RWA Wealth Partners LLC now owns 212,406 shares of the network equipment provider’s stock worth $12,574,000 after acquiring an additional 13,475 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.9 %

Cisco Systems stock opened at $60.86 on Monday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. 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 stock has a market cap of $242.12 billion, a P/E ratio of 26.58, a P/E/G ratio of 4.16 and a beta of 0.79. The company’s fifty day simple moving average is $62.11 and its 200-day simple moving average is $58.60.

Cisco Systems (NASDAQ:CSCO) last issued its 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%. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.69%. The ex-dividend date is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is presently 71.62%.

Cisco Systems announced that its board has initiated a share repurchase plan on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have recently weighed in on CSCO. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective for the company in a research report on Tuesday, January 28th. Rosenblatt Securities upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $80.00 in a research report on Thursday, February 13th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Citigroup restated an “overweight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Cisco Systems in a report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $66.63.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the transaction, the senior vice president now owns 44,155 shares of the company’s stock, valued at $2,693,013.45. The trade was a 1.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of 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 disclosure for this sale can be found here. Insiders sold 66,547 shares of company stock worth $4,275,553 over the last ninety days. 0.01% of the stock is currently owned by insiders.

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.