Los Angeles Capital Management LLC Has $235.64 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Los Angeles Capital Management LLC cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 12.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,818,575 shares of the network equipment provider's stock after selling 544,090 shares during the period. Cisco Systems makes up about 1.0% of Los Angeles Capital Management LLC's portfolio, making the stock its 20th biggest holding. Los Angeles Capital Management LLC owned about 0.10% of Cisco Systems worth $235,644,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc grew its stake in Cisco Systems by 8.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock valued at $123,000 after purchasing an additional 166 shares in the last quarter. Legacy Financial Group Inc. increased its position in shares of Cisco Systems by 3.4% during the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after purchasing an additional 169 shares during the period. Capital Advantage Inc. raised its position in shares of Cisco Systems by 1.0% during the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider's stock worth $1,028,000 after purchasing an additional 172 shares during the period. Lynx Investment Advisory raised its position in shares of Cisco Systems by 3.9% during the fourth quarter. Lynx Investment Advisory now owns 4,593 shares of the network equipment provider's stock worth $272,000 after purchasing an additional 174 shares during the period. Finally, Meridian Wealth Advisors LLC boosted its position in shares of Cisco Systems by 1.7% in the fourth quarter. Meridian Wealth Advisors LLC now owns 11,593 shares of the network equipment provider's stock worth $686,000 after buying an additional 192 shares during the period. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CSCO has been the topic of a number of recent research reports. Piper Sandler lifted their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Rosenblatt Securities upped their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Morgan Stanley upped their target price on shares of Cisco Systems from $67.00 to $70.00 and gave the company an "overweight" rating in a research report on Friday. New Street Research reiterated a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Finally, Wall Street Zen cut shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $70.35.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded down $0.22 during trading on Tuesday, hitting $68.13. 9,345,775 shares of the stock traded hands, compared to its average volume of 20,238,996. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The company has a market cap of $269.78 billion, a price-to-earnings ratio of 27.81, a P/E/G ratio of 4.07 and a beta of 0.90. The company has a fifty day moving average price of $65.84 and a two-hundred day moving average price of $62.13. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

Insiders Place Their Bets

In other news, CFO Richard Scott Herren sold 15,678 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the transaction, the chief financial officer owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. This represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total value of $48,821.34. Following the completion of the sale, the senior vice president directly owned 36,937 shares of the company's stock, valued at approximately $2,366,553.59. This represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,335 shares of company stock worth $6,271,054. Corporate insiders own 0.01% of the company's stock.

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.