LSV Asset Management Has $559.66 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• LSV Asset Management reduced its stake in Cisco Systems by 3.5%, now holding approximately 9 million shares valued at about $560 million, making it the firm's second-largest holding.
• Cisco Systems reported earnings of $0.96 per share for the last quarter, exceeding analyst expectations of $0.92, with revenue rising 11.4% year-over-year to $14.15 billion.
• The company announced a quarterly dividend of $0.41, providing an annual yield of 2.4%, contributing to a dividend payout ratio of 66.94%.

LSV Asset Management cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,069,124 shares of the network equipment provider's stock after selling 326,057 shares during the quarter. Cisco Systems accounts for about 1.3% of LSV Asset Management's investment portfolio, making the stock its 2nd largest holding. LSV Asset Management owned 0.23% of Cisco Systems worth $559,656,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Glass Jacobson Investment Advisors llc lifted its holdings in shares of Cisco Systems by 8.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after buying an additional 166 shares in the last quarter. Legacy Financial Group Inc. lifted its holdings in shares of Cisco Systems by 3.4% in the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock worth $302,000 after buying an additional 169 shares in the last quarter. Capital Advantage Inc. lifted its holdings in shares of Cisco Systems by 1.0% in the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider's stock worth $1,028,000 after buying an additional 172 shares in the last quarter. Wealthstream Advisors Inc. lifted its holdings in shares of Cisco Systems by 5.5% in the first quarter. Wealthstream Advisors Inc. now owns 3,687 shares of the network equipment provider's stock worth $228,000 after buying an additional 191 shares in the last quarter. Finally, EdgeRock Capital LLC lifted its holdings in shares of Cisco Systems by 3.9% in the first quarter. EdgeRock Capital LLC now owns 5,232 shares of the network equipment provider's stock worth $323,000 after buying an additional 197 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

NASDAQ CSCO traded up $1.38 on Monday, hitting $68.49. The company had a trading volume of 17,046,413 shares, compared to its average volume of 16,981,078. The company has a market capitalization of $271.22 billion, a PE ratio of 27.96, a PEG ratio of 3.76 and a beta of 0.91. The company's fifty day moving average price is $66.87 and its 200-day moving average price is $62.76. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month 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 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the previous year, the firm earned $0.88 EPS. The firm's revenue was up 11.4% compared to the same quarter last year. As a group, analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. Cisco Systems's dividend payout ratio is presently 66.94%.

Insider Buying and Selling at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 2,407 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total transaction of $154,072.07. Following the transaction, the executive vice president owned 177,027 shares of the company's stock, valued at approximately $11,331,498.27. The trade was a 1.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Richard Scott Herren sold 15,678 shares of the company's 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 transaction, the chief financial officer directly owned 309,543 shares in the company, valued at $20,281,257.36. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. CICC Research started coverage on shares of Cisco Systems in a report on Monday, July 14th. They issued an "outperform" rating and a $78.00 target price on the stock. 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. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. New Street Research reaffirmed a "neutral" rating and issued a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. Finally, Morgan Stanley raised their price target on shares of Cisco Systems from $67.00 to $70.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Eight analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $70.35.

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.