Value Partners Investments Inc. Sells 1,610,374 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Value Partners Investments Inc. reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 94.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,329 shares of the network equipment provider's stock after selling 1,610,374 shares during the period. Cisco Systems makes up about 3.4% of Value Partners Investments Inc.'s investment portfolio, making the stock its 3rd largest position. Value Partners Investments Inc.'s holdings in Cisco Systems were worth $6,112,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at $26,000. Navigoe LLC bought a new position in shares of Cisco Systems in the 4th quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC bought a new position in Cisco Systems in the 4th quarter worth approximately $26,000. JDM Financial Group LLC increased its position in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after buying an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new position in Cisco Systems in the 4th quarter worth approximately $30,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Trading Down 0.4%

Shares of NASDAQ:CSCO traded down $0.24 during trading hours on Wednesday, hitting $63.52. 3,928,821 shares of the company's stock traded hands, compared to its average volume of 20,257,829. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The firm has a market capitalization of $251.52 billion, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. The business has a fifty day moving average price of $59.16 and a 200-day moving average price of $60.02. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50.

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, topping analysts' consensus estimates of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The business's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 earnings per share. Equities analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders 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 dividend yield of 2.58%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems declared that its board has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Piper Sandler lifted their price objective on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $72.00 to $75.00 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. DZ Bank raised Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Finally, Evercore ISI raised their price target on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Cisco Systems currently has an average rating of "Moderate Buy" and an average price target of $68.00.

Insider Activity

In other news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the sale, the senior vice president now directly owns 44,155 shares of the company's stock, valued at approximately $2,693,013.45. The trade was a 1.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the sale, the insider now directly owns 257,162 shares of the company's stock, valued at approximately $16,450,653.14. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,431 shares of company stock valued at $1,421,356 over the last ninety days. 0.01% of the stock is currently owned by insiders.

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.