Cisco Systems, Inc. (NASDAQ:CSCO) Stake Reduced by American Century Companies Inc.

Key Points

• American Century Companies Inc. has reduced its stake in Cisco Systems by 8.0%, now holding 6,460,561 shares valued at approximately $398.68 million.
• Cisco Systems recently reported $0.99 earnings per share, exceeding analysts' estimates, with a year-over-year revenue growth of 7.6% to $14.67 billion.
• The company announced a quarterly dividend of $0.41 per share, with an ex-dividend date of October 3rd, resulting in an annualized dividend yield of 2.4%.

American Century Companies Inc. reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 8.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,460,561 shares of the network equipment provider's stock after selling 564,581 shares during the quarter. American Century Companies Inc. owned about 0.16% of Cisco Systems worth $398,681,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CSCO. Navigoe LLC bought a new position in shares of Cisco Systems in the fourth quarter worth $26,000. Mpwm Advisory Solutions LLC bought a new position in shares of Cisco Systems in the fourth quarter worth $26,000. JDM Financial Group LLC grew its stake in shares of Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Pandora Wealth Inc. bought a new position in shares of Cisco Systems in the first quarter worth $31,000. Finally, Fairway Wealth LLC grew its stake in shares of Cisco Systems by 224.7% in the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock worth $36,000 after purchasing an additional 400 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Down 1.6%

CSCO opened at $69.30 on Friday. Cisco Systems, Inc. has a fifty-two week low of $47.85 and a fifty-two week high of $72.55. The business has a 50-day moving average of $67.98 and a 200-day moving average of $63.28. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The company has a market capitalization of $274.43 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 3.90 and a beta of 0.91.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.01. Cisco Systems had a return on equity of 27.24% and a net margin of 18.45%. The company had revenue of $14.67 billion during the quarter, compared to the consensus estimate of $14.63 billion. During the same period last year, the business earned $0.87 EPS. The business's quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total value of $48,821.34. Following the transaction, the senior vice president directly owned 36,937 shares of the company's stock, valued at approximately $2,366,553.59. This trade represents a 2.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total value of $154,072.07. Following the completion of the transaction, the executive vice president directly owned 177,027 shares in the company, valued at $11,331,498.27. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,731 shares of company stock worth $5,021,519. 0.01% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several recent analyst reports. Piper Sandler increased their price target on Cisco Systems from $64.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday. Bank of America raised their target price on Cisco Systems from $76.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday. Wolfe Research assumed coverage on Cisco Systems in a research note on Tuesday, July 8th. They set a "peer perform" rating for the company. Citigroup raised their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, Morgan Stanley raised their target price on Cisco Systems from $67.00 to $70.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Eight investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $72.90.

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.

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