AEGON ASSET MANAGEMENT UK Plc Has $57.42 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

AEGON ASSET MANAGEMENT UK Plc lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 99.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 930,982 shares of the network equipment provider's stock after purchasing an additional 465,367 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc's holdings in Cisco Systems were worth $57,423,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Tallon Kerry Patrick acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $603,000. Brighton Jones LLC boosted its holdings in Cisco Systems by 49.5% during the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock worth $4,392,000 after buying an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock worth $542,000 after buying an additional 2,474 shares during the last quarter. Clear Creek Financial Management LLC lifted its position in shares of Cisco Systems by 10.6% during the 4th quarter. Clear Creek Financial Management LLC now owns 8,595 shares of the network equipment provider's stock valued at $509,000 after acquiring an additional 823 shares during the last quarter. Finally, Spire Wealth Management boosted its stake in shares of Cisco Systems by 65.3% during the 4th quarter. Spire Wealth Management now owns 42,989 shares of the network equipment provider's stock worth $2,545,000 after acquiring an additional 16,987 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of recent analyst reports. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. The Goldman Sachs Group boosted their price objective on Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, Piper Sandler raised their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus price target of $68.00.

Cisco Systems Stock Performance

Shares of CSCO stock traded up $0.03 during mid-day trading on Wednesday, reaching $64.39. The stock had a trading volume of 14,767,043 shares, compared to its average volume of 20,172,983. The firm has a market cap of $254.98 billion, a PE ratio of 28.12, a P/E/G ratio of 4.16 and a beta of 0.88. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The firm's 50 day simple moving average is $59.40 and its 200 day simple moving average is $60.20.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company 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 company posted $0.88 EPS. The business's revenue was up 11.4% on a year-over-year basis. On average, analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio is currently 66.94%.

Cisco Systems declared that its board has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 $2,693,013.45. This trade represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction 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 transaction, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. The trade was a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,616 shares of company stock valued at $2,640,095. 0.01% of the stock is currently owned by insiders.

About Cisco Systems

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.