Cisco Systems, Inc. $CSCO Position Decreased by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue trimmed its Cisco stake by 5.7% in Q4, selling 31,330 shares and leaving it with 521,384 shares valued at about $40.16 million (0.4% of its portfolio, Cisco is its 29th-largest holding).
• Insiders have been net sellers: SVP Maria Victoria Wong and EVP Oliver Tuszik sold shares in March, and insiders sold 46,431 shares worth roughly $3.57 million over the past three months (insiders own about 0.01% of the stock).
• Fundamentals and shareholder returns: Cisco beat Q earnings and revenue estimates (EPS $1.04 vs. $1.02; revenue $15.35B, up 9.7% YoY) and raised its quarterly dividend to $0.42 (annualized yield ~2.0%).

State of Alaska Department of Revenue decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 521,384 shares of the network equipment provider's stock after selling 31,330 shares during the period. Cisco Systems makes up 0.4% of State of Alaska Department of Revenue's portfolio, making the stock its 29th biggest holding. State of Alaska Department of Revenue's holdings in Cisco Systems were worth $40,161,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CSCO. Marquette Asset Management LLC acquired a new position in shares of Cisco Systems in the third quarter worth about $25,000. Lowe Wealth Advisors LLC boosted its holdings in shares of Cisco Systems by 96.2% in the third quarter. Lowe Wealth Advisors LLC now owns 408 shares of the network equipment provider's stock worth $28,000 after buying an additional 200 shares during the period. Board of the Pension Protection Fund acquired a new position in shares of Cisco Systems in the fourth quarter worth about $31,000. Cedar Mountain Advisors LLC boosted its holdings in shares of Cisco Systems by 115.7% in the third quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider's stock worth $32,000 after buying an additional 251 shares during the period. Finally, Holos Integrated Wealth LLC acquired a new position in shares of Cisco Systems in the fourth quarter worth about $41,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Cisco Systems news, SVP Maria Victoria Wong sold 551 shares of Cisco Systems stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $77.54, for a total transaction of $42,724.54. Following the sale, the senior vice president owned 27,957 shares in the company, valued at $2,167,785.78. The trade was a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Oliver Tuszik sold 3,132 shares of Cisco Systems stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $79.74, for a total transaction of $249,745.68. Following the sale, the executive vice president owned 188,613 shares in the company, valued at $15,040,000.62. This represents a 1.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 46,431 shares of company stock valued at $3,574,820. 0.01% of the stock is owned by insiders.

Cisco Systems Price Performance

Shares of CSCO opened at $82.22 on Monday. The firm has a market cap of $324.76 billion, a PE ratio of 28.85, a PEG ratio of 3.10 and a beta of 0.83. The firm's 50 day moving average price is $79.74 and its 200 day moving average price is $76.23. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96. Cisco Systems, Inc. has a twelve month low of $53.83 and a twelve month high of $88.18.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.02. The firm had revenue of $15.35 billion for the quarter, compared to analyst estimates of $15.11 billion. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The company's revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 earnings per share. As a group, research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be paid a $0.42 dividend. The ex-dividend date is Thursday, April 2nd. This is a positive change from Cisco Systems's previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 2.0%. Cisco Systems's dividend payout ratio is 58.95%.

Analysts Set New Price Targets

Several brokerages have commented on CSCO. DZ Bank upgraded shares of Cisco Systems to a "strong-buy" rating in a report on Friday, February 13th. HSBC increased their price target on shares of Cisco Systems from $74.00 to $77.00 and gave the stock a "hold" rating in a research report on Friday, February 13th. Weiss Ratings reissued a "buy (b)" rating on shares of Cisco Systems in a research report on Tuesday, January 27th. Morgan Stanley increased their price target on shares of Cisco Systems from $82.00 to $91.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 17th. Finally, BNP Paribas Exane increased their price target on shares of Cisco Systems from $86.00 to $87.00 and gave the stock an "outperform" rating in a research report on Thursday, February 12th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of "Moderate Buy" and an average target price of $89.76.

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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