Penserra Capital Management LLC Lowers Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Penserra Capital Management LLC lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,233,060 shares of the network equipment provider's stock after selling 151,831 shares during the period. Cisco Systems accounts for 2.5% of Penserra Capital Management LLC's investment portfolio, making the stock its 3rd largest position. Penserra Capital Management LLC owned about 0.06% of Cisco Systems worth $137,800,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Glass Jacobson Investment Advisors llc raised its holdings in shares of Cisco Systems by 8.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock valued at $123,000 after buying an additional 166 shares during the last quarter. BlackDiamond Wealth Management LLC grew its stake in shares of Cisco Systems by 3.1% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock worth $335,000 after purchasing an additional 168 shares in the last quarter. Legacy Financial Group Inc. increased its holdings in shares of Cisco Systems by 3.4% during the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after purchasing an additional 169 shares during the period. Capital Advantage Inc. lifted its stake in shares of Cisco Systems by 1.0% in the 4th quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider's stock worth $1,028,000 after acquiring an additional 172 shares during the period. Finally, Lynx Investment Advisory boosted its stake in Cisco Systems by 3.9% during the 4th quarter. Lynx Investment Advisory now owns 4,593 shares of the network equipment provider's stock valued at $272,000 after purchasing an additional 174 shares in the last quarter. Institutional investors own 73.33% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. KeyCorp assumed coverage on shares of Cisco Systems in a report on Thursday, June 26th. They issued an "overweight" rating and a $77.00 price target for the company. Piper Sandler increased their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Rosenblatt Securities lifted their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Evercore ISI increased their price objective on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Finally, Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of "Moderate Buy" and an average price target of $69.53.

Cisco Systems Stock Down 0.4%

Shares of NASDAQ CSCO traded down $0.31 during trading on Monday, hitting $69.07. 5,983,466 shares of the company traded hands, compared to its average volume of 20,295,088. 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 business's fifty day moving average is $63.93 and its 200 day moving average is $61.51. The firm has a market capitalization of $273.50 billion, a price-to-earnings ratio of 28.21, a P/E/G ratio of 4.15 and a beta of 0.90. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.78.

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

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio is currently 66.94%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,407 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total transaction of $154,072.07. Following the transaction, the executive vice president directly owned 177,027 shares in the company, valued at approximately $11,331,498.27. This trade represents a 1.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the sale, the chief financial officer owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. This represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,335 shares of company stock valued at $6,271,054. Corporate insiders own 0.01% of the company's stock.

About Cisco Systems

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.