Cisco Systems, Inc. $CSCO Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE trimmed its Cisco stake by 1.8%, selling 68,203 shares and leaving it with 3,754,419 shares valued at about $289.2 million (≈0.10% of the company).
• Cisco beat quarterly estimates with EPS of $1.04 vs. $1.02 and revenue of $15.35 billion (up 9.7% YoY), and raised its quarterly dividend to $0.42 ($1.68 annual, 1.9% yield).
• Market sentiment is mixed-to-positive: analysts’ consensus is a “Moderate Buy” with a $89.81 target, institutional ownership is 73.33%, and insiders have sold about 46,431 shares (~$3.57M) in the past 90 days.

US Bancorp DE decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,754,419 shares of the network equipment provider's stock after selling 68,203 shares during the quarter. US Bancorp DE owned about 0.10% of Cisco Systems worth $289,203,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Marquette Asset Management LLC acquired a new stake in shares of Cisco Systems during the third quarter worth $25,000. Board of the Pension Protection Fund acquired a new stake in shares of Cisco Systems during the fourth quarter worth $31,000. Cedar Mountain Advisors LLC boosted its holdings in shares of Cisco Systems by 115.7% during the third quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider's stock worth $32,000 after purchasing an additional 251 shares during the last quarter. Holos Integrated Wealth LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth $41,000. Finally, eCIO Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter worth $46,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Trading Up 3.1%

Shares of CSCO opened at $89.57 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $353.79 billion, a P/E ratio of 31.43, a price-to-earnings-growth ratio of 3.33 and a beta of 0.83. The stock's fifty day simple moving average is $81.20 and its 200 day simple moving average is $77.83. Cisco Systems, Inc. has a twelve month low of $56.46 and a twelve month high of $90.45.

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 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 for the quarter, compared to analyst estimates of $15.11 billion. During the same period last year, the company posted $0.94 EPS. The business's quarterly revenue was up 9.7% on a year-over-year basis. On average, equities research analysts forecast that Cisco Systems, Inc. will post 3.4 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.9%. This is a boost from Cisco Systems's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, April 2nd. Cisco Systems's dividend payout ratio is 58.95%.

Wall Street Analyst Weigh In

CSCO has been the topic of several analyst reports. Wall Street Zen cut Cisco Systems from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. 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. Truist Financial assumed coverage on Cisco Systems in a research report on Tuesday, March 31st. They issued a "buy" rating and a $94.00 target price on the stock. UBS Group increased their target price on Cisco Systems from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, February 12th. Finally, Erste Group Bank lowered Cisco Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, February 18th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus target price of $89.81.

Insider Buying and Selling

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,981 shares of the firm's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $79.50, for a total value of $634,489.50. Following the transaction, the executive vice president directly owned 187,097 shares of the company's stock, valued at $14,874,211.50. This trade represents a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeetendra I. Patel sold 11,248 shares of the firm's stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $76.00, for a total value of $854,848.00. Following the completion of the transaction, the insider directly owned 262,776 shares in the company, valued at $19,970,976. This trade represents a 4.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 46,431 shares of company stock valued at $3,574,820 over the last ninety days. Insiders own 0.01% of the company's stock.

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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