Cisco Systems, Inc. $CSCO Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group reduced its stake in Cisco by 2.6% in Q4, selling 282,210 shares and now holding 10,776,719 shares valued at about $830.13 million (0.27% ownership).
• Cisco beat Q4 estimates with EPS of $1.04 versus $1.02 and revenue of $15.35 billion versus $15.11 billion (revenue up 9.7% YoY), and analysts have raised targets leaving a consensus rating of Moderate Buy with a $89.76 price target.
• Cisco raised its quarterly dividend to $0.42 (annualized $1.68) for a 2.0% yield, with an ex-dividend date of April 2 and payment on April 22.

Sumitomo Mitsui Trust Group Inc. reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,776,719 shares of the network equipment provider's stock after selling 282,210 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.27% of Cisco Systems worth $830,131,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Marquette Asset Management LLC acquired a new stake in shares of Cisco Systems in the 3rd quarter worth approximately $25,000. Board of the Pension Protection Fund acquired a new stake in shares of Cisco Systems in the 4th quarter worth approximately $31,000. Lowe Wealth Advisors LLC lifted its stake in shares of Cisco Systems by 96.2% in the 3rd quarter. Lowe Wealth Advisors LLC now owns 408 shares of the network equipment provider's stock worth $28,000 after acquiring an additional 200 shares during the period. Cedar Mountain Advisors LLC lifted its stake in shares of Cisco Systems by 115.7% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider's stock worth $32,000 after acquiring an additional 251 shares during the period. Finally, Holos Integrated Wealth LLC acquired a new stake in shares of Cisco Systems in the 4th quarter worth approximately $41,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Trading Down 1.1%

Shares of NASDAQ:CSCO opened at $82.22 on Friday. The stock has a market capitalization of $324.76 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 3.10 and a beta of 0.83. Cisco Systems, Inc. has a 1-year low of $53.83 and a 1-year high of $88.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96. The company has a 50 day moving average price of $79.74 and a 200 day moving average price of $76.17.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. The firm 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 firm's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $0.94 earnings per share. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be given a $0.42 dividend. This is a boost 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 2.0%. Cisco Systems's payout ratio is currently 58.95%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CSCO. UBS Group upped their price target on shares of Cisco Systems from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, February 12th. Weiss Ratings restated a "buy (b)" rating on shares of Cisco Systems in a report on Tuesday, January 27th. Evercore upgraded shares of Cisco Systems from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $80.00 to $100.00 in a report on Monday, January 26th. BNP Paribas Exane raised their target price on shares of Cisco Systems from $86.00 to $87.00 and gave the stock an "outperform" rating in a report on Thursday, February 12th. Finally, Argus upgraded shares of Cisco Systems to a "strong-buy" rating in a report on Friday, February 13th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.76.

Insiders Place Their Bets

In related news, EVP Deborah L. Stahlkopf sold 7,981 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $79.50, for a total value of $634,489.50. Following the completion of the sale, the executive vice president owned 187,097 shares in the company, valued at approximately $14,874,211.50. This represents a 4.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 551 shares of the company's stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 27,957 shares of the company's stock, valued at approximately $2,167,785.78. This trade represents a 1.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 46,431 shares of company stock worth $3,574,820 in the last quarter. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Company 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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