Hudson Bay Capital Management LP lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 49.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 101,672 shares of the network equipment provider's stock after selling 98,628 shares during the quarter. Hudson Bay Capital Management LP's holdings in Cisco Systems were worth $6,019,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of CSCO. Guardian Wealth Advisors LLC NC grew its position in shares of Cisco Systems by 6.5% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 20,062 shares of the network equipment provider's stock worth $1,188,000 after buying an additional 1,231 shares in the last quarter. Graham Capital Management L.P. bought a new position in shares of Cisco Systems during the 4th quarter worth $6,208,000. Focus Partners Wealth grew its position in shares of Cisco Systems by 7.8% during the 4th quarter. Focus Partners Wealth now owns 1,853,524 shares of the network equipment provider's stock worth $110,301,000 after buying an additional 134,715 shares in the last quarter. Ellevest Inc. grew its position in shares of Cisco Systems by 32.6% during the 4th quarter. Ellevest Inc. now owns 6,947 shares of the network equipment provider's stock worth $411,000 after buying an additional 1,709 shares in the last quarter. Finally, Ethic Inc. grew its position in shares of Cisco Systems by 1.4% during the 4th quarter. Ethic Inc. now owns 431,762 shares of the network equipment provider's stock worth $25,560,000 after buying an additional 6,122 shares in the last quarter. Institutional investors own 73.33% of the company's stock.
Cisco Systems Price Performance
CSCO stock traded down $0.64 during mid-day trading on Friday, reaching $63.62. 30,263,445 shares of the company's stock were exchanged, compared to its average volume of 20,529,377. The stock's 50 day moving average is $58.69 and its 200 day moving average is $59.60. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The company has a market cap of $253.10 billion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.05. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The business had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter in the prior year, the firm earned $0.88 earnings per share. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.
Cisco Systems Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.58%. Cisco Systems's payout ratio is currently 71.62%.
Cisco Systems announced that its board has initiated a stock 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 usually an indication that the company's leadership believes its shares are undervalued.
Analyst Ratings Changes
CSCO has been the topic of a number of recent research reports. Citigroup increased their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday. StockNews.com cut shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 5th. Piper Sandler lifted their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, New Street Research reissued a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $67.47.
Check Out Our Latest Stock Analysis on Cisco Systems
Insider Buying and Selling at Cisco Systems
In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares of the company's stock, valued at approximately $2,693,013.45. This trade represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares of the company's stock, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,635 shares of company stock valued at $931,901 over the last quarter. 0.01% of the stock is currently owned by insiders.
Cisco Systems Profile
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Free Report)
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.
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