Dimensional Fund Advisors LP Has $1.81 Billion Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Dimensional Fund Advisors LP has reduced its stake in Cisco Systems by 0.4%, owning approximately 29.3 million shares worth around $1.81 billion after selling 111,265 shares.
• Cisco Systems reported earnings of $0.99 per share for the latest quarter, slightly surpassing analysts' estimate of $0.98, along with a revenue increase of 7.6% year-over-year.
• The company announced a quarterly dividend of $0.41 per share, with an annualized dividend of $1.64, reflecting a yield of 2.4% for shareholders.

Dimensional Fund Advisors LP decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 0.4% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 29,307,776 shares of the network equipment provider's stock after selling 111,265 shares during the period. Cisco Systems makes up about 0.4% of Dimensional Fund Advisors LP's investment portfolio, making the stock its 20th largest position. Dimensional Fund Advisors LP owned 0.74% of Cisco Systems worth $1,808,430,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CSCO. Brighton Jones LLC grew its position in Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after acquiring an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock valued at $542,000 after acquiring an additional 2,474 shares in the last quarter. Ontario Teachers Pension Plan Board grew its position in Cisco Systems by 42.6% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 14,746 shares of the network equipment provider's stock valued at $873,000 after acquiring an additional 4,406 shares in the last quarter. NewEdge Advisors LLC grew its position in Cisco Systems by 6.3% in the fourth quarter. NewEdge Advisors LLC now owns 422,861 shares of the network equipment provider's stock valued at $25,033,000 after acquiring an additional 25,069 shares in the last quarter. Finally, Capital Square LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth approximately $216,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insiders Place Their Bets

In other Cisco Systems news, 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 value of $1,027,222.56. Following the completion of the sale, the chief financial officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeetendra I. Patel sold 899 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $64.27, for a total transaction of $57,778.73. Following the completion of the sale, the insider directly owned 255,377 shares of the company's stock, valued at $16,413,079.79. The trade was a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,731 shares of company stock valued at $5,021,519. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

Shares of CSCO traded down $3.10 during midday trading on Friday, hitting $66.20. 40,854,477 shares of the stock traded hands, compared to its average volume of 20,656,640. Cisco Systems, Inc. has a 1-year low of $47.85 and a 1-year high of $72.55. The firm has a market capitalization of $262.15 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 3.67 and a beta of 0.91. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.01. The business's 50 day moving average price is $67.98 and its two-hundred day moving average price is $63.36.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.01. The business had revenue of $14.67 billion during the quarter, compared to the consensus estimate of $14.63 billion. Cisco Systems had a net margin of 18.45% and a return on equity of 27.02%. The company's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.87 earnings per share. Equities research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.64 annualized dividend and a yield of 2.5%. Cisco Systems's dividend payout ratio is presently 66.94%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. KeyCorp assumed coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They set an "overweight" rating and a $77.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Cisco Systems from $73.00 to $78.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. UBS Group raised their price target on shares of Cisco Systems from $70.00 to $74.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Evercore ISI raised their price target on shares of Cisco Systems from $72.00 to $74.00 and gave the stock an "in-line" rating in a research report on Thursday. Finally, Piper Sandler raised their price target on shares of Cisco Systems from $64.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday. Ten research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.53.

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.