Miller Howard Investments Inc. NY Has $76.93 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Miller Howard Investments Inc. NY lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,246,565 shares of the network equipment provider's stock after selling 16,948 shares during the quarter. Cisco Systems makes up approximately 2.4% of Miller Howard Investments Inc. NY's investment portfolio, making the stock its 8th largest position. Miller Howard Investments Inc. NY's holdings in Cisco Systems were worth $76,926,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC increased its position in Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after buying an additional 13,285,052 shares during the last quarter. Norges Bank acquired a new position in Cisco Systems during the fourth quarter worth approximately $3,297,905,000. Northern Trust Corp increased its position in Cisco Systems by 11.4% during the fourth quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock worth $2,796,505,000 after buying an additional 4,832,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Cisco Systems by 7.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider's stock worth $2,159,099,000 after buying an additional 2,637,006 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Cisco Systems by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock worth $1,741,597,000 after buying an additional 681,555 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer owned 688,409 shares in the company, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the transaction, the insider owned 257,162 shares in the company, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by company insiders.

Cisco Systems Price Performance

Shares of CSCO stock traded up $1.05 during trading on Friday, hitting $69.64. The company had a trading volume of 17,973,495 shares, compared to its average volume of 20,328,057. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The firm has a market capitalization of $275.77 billion, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 4.10 and a beta of 0.90. The stock's 50-day moving average price is $63.67 and its 200 day moving average price is $61.38. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. The business had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 earnings per share. Equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.35%. Cisco Systems's payout ratio is 66.94%.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and boosted their price target for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. Piper Sandler boosted their price target on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Rosenblatt Securities upped their target price on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. New Street Research reaffirmed a "neutral" rating and issued a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Finally, Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $69.53.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.