Cisco Systems, Inc. $CSCO Holdings Lowered by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank cut its Cisco stake by 29.2%, selling 812,953 shares in Q4 and now holds 1,969,778 shares worth about $151.73 million.
• Cisco beat expectations for the quarter, reporting $1.04 EPS vs. $1.02 consensus and $15.35 billion in revenue (up 9.7% year-over-year), with analysts forecasting roughly 3.04 EPS for the fiscal year.
• Cisco raised its quarterly dividend to $0.42 per share, an annualized $1.68 (about a 1.9% yield), up from the prior $0.41 quarterly payout.

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 29.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,969,778 shares of the network equipment provider's stock after selling 812,953 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Cisco Systems were worth $151,732,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CSCO. Beacon Bridge Wealth Partners LLC acquired a new stake in Cisco Systems during the 4th quarter worth about $214,000. Earned Wealth Advisors LLC boosted its holdings in shares of Cisco Systems by 17.0% in the fourth quarter. Earned Wealth Advisors LLC now owns 9,377 shares of the network equipment provider's stock worth $722,000 after buying an additional 1,361 shares during the period. Berkshire Money Management Inc. purchased a new position in shares of Cisco Systems in the fourth quarter worth approximately $272,000. FSR Wealth Management Ltd. purchased a new position in shares of Cisco Systems in the fourth quarter worth approximately $211,000. Finally, BigSur Wealth Management LLC raised its holdings in shares of Cisco Systems by 12.8% during the fourth quarter. BigSur Wealth Management LLC now owns 8,461 shares of the network equipment provider's stock valued at $652,000 after acquiring an additional 961 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Price Performance

CSCO opened at $86.25 on Monday. The company has a market capitalization of $340.68 billion, a PE ratio of 30.26, a price-to-earnings-growth ratio of 3.25 and a beta of 0.83. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85. Cisco Systems, Inc. has a fifty-two week low of $53.83 and a fifty-two week high of $88.18. The business has a 50-day moving average of $79.86 and a 200-day moving average of $76.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The business had revenue of $15.35 billion during the quarter, compared to analysts' expectations of $15.11 billion. During the same quarter in the previous year, the business posted $0.94 EPS. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be paid a dividend of $0.42 per share. This is a positive change from Cisco Systems's previous quarterly dividend of $0.41. The ex-dividend date is Thursday, April 2nd. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. Cisco Systems's dividend payout ratio (DPR) is currently 58.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CSCO shares. Erste Group Bank downgraded shares of Cisco Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, February 18th. Argus raised shares of Cisco Systems to a "strong-buy" rating in a research note on Friday, February 13th. Weiss Ratings restated a "buy (b)" rating on shares of Cisco Systems in a report on Tuesday, January 27th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $100.00 target price on shares of Cisco Systems in a research report on Thursday, February 12th. Finally, BNP Paribas Exane upped their price target on Cisco Systems from $86.00 to $87.00 and gave the company an "outperform" rating in a research report on Thursday, February 12th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.81.

Insider Activity at Cisco Systems

In related news, EVP Oliver Tuszik sold 3,132 shares of the company's stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $79.74, for a total value of $249,745.68. Following the completion of the sale, the executive vice president directly owned 188,613 shares in the company, valued at approximately $15,040,000.62. This represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 7,981 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $79.50, for a total transaction of $634,489.50. Following the transaction, the executive vice president directly owned 187,097 shares in the company, valued at $14,874,211.50. The trade was a 4.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 46,431 shares of company stock worth $3,574,820 over the last quarter. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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