Cisco Systems, Inc. $CSCO Shares Sold by Davidson Investment Advisors

Key Points

• Davidson Investment Advisors reduced its stake in Cisco by 3.5% in Q4, selling 12,906 shares and now holds 354,154 shares worth about $27.28M, roughly 1.1% of its portfolio.
• Insider selling continued: CEO Charles Robbins sold 19,545 shares at $76 on Feb. 13 for about $1.49M, and insiders sold 46,431 shares totaling roughly $3.57M in the last quarter (insiders now own ~0.01%).
• Cisco raised its quarterly dividend to $0.42 (from $0.41), with an ex-dividend date of April 2 and a yield of about 1.9%.

Davidson Investment Advisors lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 354,154 shares of the network equipment provider's stock after selling 12,906 shares during the period. Cisco Systems comprises approximately 1.1% of Davidson Investment Advisors' portfolio, making the stock its 25th largest position. Davidson Investment Advisors' holdings in Cisco Systems were worth $27,281,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CSCO. Brighton Jones LLC increased its holdings in Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after purchasing an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Cisco Systems by 37.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock valued at $542,000 after buying an additional 2,474 shares during the period. Sivia Capital Partners LLC boosted its position in Cisco Systems by 7.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 10,178 shares of the network equipment provider's stock valued at $706,000 after buying an additional 712 shares during the period. Schnieders Capital Management LLC. boosted its position in Cisco Systems by 3.9% in the 2nd quarter. Schnieders Capital Management LLC. now owns 13,974 shares of the network equipment provider's stock valued at $969,000 after buying an additional 519 shares during the period. Finally, Marshall Wace LLP boosted its position in Cisco Systems by 118.1% in the 2nd quarter. Marshall Wace LLP now owns 90,650 shares of the network equipment provider's stock valued at $6,289,000 after buying an additional 590,650 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 19,545 shares of Cisco Systems stock in a transaction on Friday, February 13th. The shares were sold at an average price of $76.00, for a total transaction of $1,485,420.00. Following the completion of the sale, the chief executive officer directly owned 671,095 shares of the company's stock, valued at approximately $51,003,220. The trade was a 2.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,744 shares of Cisco Systems stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $77.07, for a total transaction of $134,410.08. Following the sale, the executive vice president directly owned 156,693 shares of the company's stock, valued at approximately $12,076,329.51. This trade represents a 1.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 46,431 shares of company stock worth $3,574,820. 0.01% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. BNP Paribas Exane raised their price target on shares of Cisco Systems from $86.00 to $87.00 and gave the company an "outperform" rating in a research report on Thursday, February 12th. Truist Financial assumed coverage on shares of Cisco Systems in a research report on Tuesday, March 31st. They issued a "buy" rating and a $94.00 price target for the company. Rosenblatt Securities reissued a "buy" rating and issued a $100.00 price target on shares of Cisco Systems in a research report on Thursday, February 12th. Zacks Research cut shares of Cisco Systems from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Finally, Erste Group Bank cut shares of Cisco Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, February 18th. Three 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $89.81.

Cisco Systems Price Performance

Cisco Systems stock opened at $86.25 on Monday. The stock has a market cap of $340.68 billion, a P/E ratio of 30.26, a price-to-earnings-growth ratio of 3.25 and a beta of 0.83. The company has a fifty day simple moving average of $79.86 and a 200-day simple moving average of $76.78. Cisco Systems, Inc. has a 12-month low of $53.83 and a 12-month high of $88.18. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.02. The business had revenue of $15.35 billion during the quarter, compared to analysts' expectations 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 period in the previous year, the company earned $0.94 EPS. Equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be given a dividend of $0.42 per share. This is an increase from Cisco Systems's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. Cisco Systems's dividend payout ratio is presently 58.95%.

About Cisco Systems

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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