Jennison Associates LLC Has $286.26 Million Stake in Cisco Systems, Inc. $CSCO

Key Points

• Jennison Associates trimmed its Cisco stake by 12.2% in Q4 to 3,716,184 shares worth about $286.26 million (≈0.09% of the company), selling 515,212 shares.
• Company insiders sold a total of 46,431 shares (~$3.57 million) over the last three months — including CEO Charles Robbins (19,545 shares) — leaving insiders with just 0.01% ownership.
• Analysts hold a Moderate Buy consensus with an average target of $89.81; Cisco recently beat quarterly EPS and revenue estimates, posted 9.7% revenue growth, and raised its quarterly dividend to $0.42 (1.9% yield).

Jennison Associates LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 12.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,716,184 shares of the network equipment provider's stock after selling 515,212 shares during the period. Jennison Associates LLC owned approximately 0.09% of Cisco Systems worth $286,258,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Juncture Wealth Strategies LLC increased its position in shares of Cisco Systems by 0.9% in the fourth quarter. Juncture Wealth Strategies LLC now owns 15,042 shares of the network equipment provider's stock worth $1,159,000 after purchasing an additional 132 shares during the last quarter. Northstar Advisory Group LLC boosted its stake in Cisco Systems by 1.6% in the fourth quarter. Northstar Advisory Group LLC now owns 8,203 shares of the network equipment provider's stock worth $632,000 after buying an additional 133 shares in the last quarter. Roman Butler Fullerton & Co. boosted its stake in Cisco Systems by 0.8% in the fourth quarter. Roman Butler Fullerton & Co. now owns 15,917 shares of the network equipment provider's stock worth $1,183,000 after buying an additional 133 shares in the last quarter. Green Alpha Advisors LLC raised its stake in shares of Cisco Systems by 1.2% during the fourth quarter. Green Alpha Advisors LLC now owns 12,349 shares of the network equipment provider's stock worth $951,000 after acquiring an additional 141 shares in the last quarter. Finally, Benchmark Financial Wealth Advisors LLC raised its stake in shares of Cisco Systems by 1.4% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 10,449 shares of the network equipment provider's stock worth $715,000 after acquiring an additional 142 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 1,744 shares of the firm's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $77.07, for a total value of $134,410.08. Following the completion of the sale, the executive vice president owned 156,693 shares of the company's stock, valued at $12,076,329.51. This trade represents a 1.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 19,545 shares of the firm's stock in a transaction on Friday, February 13th. The stock was sold at an average price of $76.00, for a total value of $1,485,420.00. Following the completion of the sale, the chief executive officer directly owned 671,095 shares of the company's stock, valued at $51,003,220. The trade was a 2.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 46,431 shares of company stock valued at $3,574,820 over the last three months. Insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CSCO. Evercore raised shares of Cisco Systems from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $80.00 to $100.00 in a research note on Monday, January 26th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cisco Systems in a research note on Friday, April 24th. HSBC upped their price objective on shares of Cisco Systems from $74.00 to $77.00 and gave the company a "hold" rating in a research note on Friday, February 13th. BNP Paribas Exane upped their price objective on shares of Cisco Systems from $86.00 to $87.00 and gave the company an "outperform" rating in a research note on Thursday, February 12th. Finally, Erste Group Bank cut shares of Cisco Systems from a "buy" rating to a "hold" rating in a research note on Wednesday, February 18th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $89.81.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $89.76 on Thursday. The firm has a market cap of $354.54 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 3.33 and a beta of 0.83. Cisco Systems, Inc. has a fifty-two week low of $57.68 and a fifty-two week high of $90.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96. The business has a 50 day moving average price of $81.20 and a 200-day moving average price of $77.83.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.02. The firm had revenue of $15.35 billion during the quarter, compared to analyst estimates of $15.11 billion. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The business's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 earnings per share. Equities research analysts predict that Cisco Systems, Inc. will post 3.4 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd were paid a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This is a positive change from Cisco Systems's previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a yield of 1.9%. Cisco Systems's payout ratio is 58.95%.

About Cisco Systems

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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