Mitsubishi UFJ Trust & Banking Corp Sells 760,935 Shares of Cisco Systems, Inc. $CSCO

Key Points

• Mitsubishi UFJ Trust & Banking reduced its stake in Cisco by 22.2%, selling 760,935 shares in the quarter and holding 2,665,323 shares (about $205.3M), which is roughly 0.5% of the firm's portfolio and its 29th largest position.
• Other large institutions boosted holdings—Vanguard now owns 398,943,293 shares (~$30.7B) and Arrowstreet, Wellington and Invesco added sizable positions—leaving institutional investors with about 73.33% ownership of Cisco.
• Cisco beat Q results (EPS $1.04 vs $1.02 est.; revenue $15.35B, +9.7% YoY) and raised its quarterly dividend to $0.42 ($1.68 annual, 1.9% yield); analysts' consensus is a "Moderate Buy" with an average target of $89.81.

Mitsubishi UFJ Trust & Banking Corp lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 22.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,665,323 shares of the network equipment provider's stock after selling 760,935 shares during the quarter. Cisco Systems accounts for approximately 0.5% of Mitsubishi UFJ Trust & Banking Corp's portfolio, making the stock its 29th largest position. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.07% of Cisco Systems worth $205,313,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CSCO. Arrowstreet Capital Limited Partnership increased its stake in shares of Cisco Systems by 110.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 18,406,442 shares of the network equipment provider's stock valued at $1,259,369,000 after acquiring an additional 9,648,265 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Cisco Systems by 19.5% in the 3rd quarter. Wellington Management Group LLP now owns 33,748,414 shares of the network equipment provider's stock valued at $2,309,066,000 after acquiring an additional 5,498,375 shares in the last quarter. Invesco Ltd. increased its stake in shares of Cisco Systems by 10.5% in the 3rd quarter. Invesco Ltd. now owns 53,612,720 shares of the network equipment provider's stock valued at $3,668,182,000 after acquiring an additional 5,081,469 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Cisco Systems by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 398,943,293 shares of the network equipment provider's stock valued at $30,730,602,000 after acquiring an additional 4,049,893 shares in the last quarter. Finally, Danske Bank A S bought a new stake in shares of Cisco Systems in the 3rd quarter valued at $233,956,000. Institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $88.26 on Tuesday. The firm has a market capitalization of $348.62 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 3.35 and a beta of 0.83. The firm has a fifty day simple moving average of $80.78 and a two-hundred day simple moving average of $77.62. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. Cisco Systems, Inc. has a 12 month low of $56.42 and a 12 month high of $90.45.

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

Cisco Systems Increases Dividend

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. CICC Research lifted their price objective on shares of Cisco Systems from $84.00 to $96.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. Erste Group Bank lowered shares of Cisco Systems from a "buy" rating to a "hold" rating in a research note on Wednesday, February 18th. Truist Financial assumed coverage on shares of Cisco Systems in a research note on Tuesday, March 31st. They issued a "buy" rating and a $94.00 price objective for the company. Wall Street Zen lowered shares of Cisco Systems from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Cisco Systems in a research note on Friday. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average target price of $89.81.

Insider Activity

In other Cisco Systems news, insider Jeetendra I. Patel sold 11,248 shares of Cisco Systems stock in a transaction on Friday, February 13th. The shares were sold at an average price of $76.00, for a total transaction of $854,848.00. Following the transaction, the insider directly owned 262,776 shares of the company's stock, valued at $19,970,976. The trade was a 4.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 7,981 shares of Cisco Systems stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $79.50, for a total transaction of $634,489.50. Following the transaction, the executive vice president directly owned 187,097 shares in the company, valued at $14,874,211.50. This represents a 4.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 46,431 shares of company stock worth $3,574,820. Company insiders own 0.01% of the company's stock.

Cisco Systems Company Profile

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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