QRG Capital Management Inc. Has $59.55 Million Stock Holdings in Cisco Systems, Inc. $CSCO

Key Points

• QRG Capital Management increased its stake in Cisco by 10.7% to 773,089 shares, worth $59,551,000, making CSCO its 21st largest holding (about 0.7% of QRG's portfolio).
• Cisco topped Q4 estimates with $1.04 EPS vs. $1.02 and revenue of $15.35 billion (+9.7% YoY), and raised its quarterly dividend to $0.42 ($1.68 annualized, ~1.8% yield).
• Institutions own about 73.33% of Cisco, with large stake increases from Arrowstreet, Wellington, Invesco and Vanguard (Vanguard ~398.9M shares); analysts' consensus is a Moderate Buy with a $89.81 target.

QRG Capital Management Inc. increased its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 10.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 773,089 shares of the network equipment provider's stock after buying an additional 74,410 shares during the period. Cisco Systems accounts for approximately 0.7% of QRG Capital Management Inc.'s investment portfolio, making the stock its 21st biggest holding. QRG Capital Management Inc.'s holdings in Cisco Systems were worth $59,551,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CSCO. Arrowstreet Capital Limited Partnership grew 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 buying an additional 9,648,265 shares during the period. Wellington Management Group LLP grew 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 buying an additional 5,498,375 shares during the period. Invesco Ltd. grew 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 buying an additional 5,081,469 shares during the period. Vanguard Group Inc. lifted its position in 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 position in Cisco Systems in the 3rd quarter valued at about $233,956,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Trading Up 0.8%

NASDAQ:CSCO opened at $92.63 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $365.88 billion, a PE ratio of 32.50, a price-to-earnings-growth ratio of 3.46 and a beta of 0.92. The firm's 50 day moving average is $81.46 and its 200 day moving average is $78.07. Cisco Systems, Inc. has a 12 month low of $58.58 and a 12 month high of $93.10.

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

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd were issued a $0.42 dividend. This is a boost from Cisco Systems's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.8%. Cisco Systems's payout ratio is presently 58.95%.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 19,545 shares of Cisco Systems stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $76.00, for a total value of $1,485,420.00. Following the sale, the chief executive officer owned 671,095 shares of the company's stock, valued at approximately $51,003,220. The trade was a 2.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 7,981 shares of the business's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $79.50, for a total transaction of $634,489.50. Following the sale, the executive vice president directly owned 187,097 shares in the company, valued at $14,874,211.50. The trade was a 4.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 46,431 shares of company stock worth $3,574,820 in the last three months. Insiders own 0.01% of the company's stock.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several recent research reports. CICC Research raised their price target on shares of Cisco Systems from $84.00 to $96.00 and gave the company an "outperform" rating in a research report on Friday, February 13th. Erste Group Bank cut shares of Cisco Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, February 18th. Zacks Research cut shares of Cisco Systems from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Argus raised shares of Cisco Systems to a "strong-buy" rating in a research report on Friday, February 13th. Finally, HSBC raised their price target on shares of Cisco Systems from $74.00 to $77.00 and gave the company a "hold" rating in a research report on Friday, February 13th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.81.

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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