Quintet Private Bank Europe S.A. reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 24.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 380,300 shares of the network equipment provider's stock after selling 124,096 shares during the quarter. Cisco Systems makes up about 1.7% of Quintet Private Bank Europe S.A.'s portfolio, making the stock its 15th largest position. Quintet Private Bank Europe S.A.'s holdings in Cisco Systems were worth $29,295,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Marquette Asset Management LLC bought a new position in shares of Cisco Systems in the 3rd quarter worth about $25,000. Lowe Wealth Advisors LLC boosted its position in shares of Cisco Systems by 96.2% during the 3rd quarter. Lowe Wealth Advisors LLC now owns 408 shares of the network equipment provider's stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Board of the Pension Protection Fund acquired a new stake in Cisco Systems during the fourth quarter worth approximately $31,000. Cedar Mountain Advisors LLC grew its stake in Cisco Systems by 115.7% during the third quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider's stock worth $32,000 after purchasing an additional 251 shares during the period. Finally, Holos Integrated Wealth LLC bought a new stake in Cisco Systems in the fourth quarter worth approximately $41,000. Institutional investors own 73.33% of the company's stock.
Key Stories Impacting Cisco Systems
Here are the key news stories impacting Cisco Systems this week:
Insider Activity at Cisco Systems
In related news, EVP Deborah L. Stahlkopf sold 7,981 shares of the firm's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $79.50, for a total value of $634,489.50. Following the transaction, the executive vice president owned 187,097 shares of the company's stock, valued at approximately $14,874,211.50. This trade represents a 4.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 19,545 shares of Cisco Systems stock in a transaction dated 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 transaction, the chief executive officer owned 671,095 shares of the company's stock, valued at $51,003,220. This trade represents a 2.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 46,431 shares of company stock valued at $3,574,820 over the last quarter. 0.01% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Citigroup increased their price target on Cisco Systems from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, February 12th. DZ Bank upgraded shares of Cisco Systems to a "strong-buy" rating in a research note on Friday, February 13th. Zacks Research raised shares of Cisco Systems from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 26th. Rosenblatt Securities restated a "buy" rating and issued a $100.00 price target on shares of Cisco Systems in a report on Thursday, February 12th. Finally, UBS Group lifted their price target on shares of Cisco Systems from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, February 12th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $89.76.
View Our Latest Research Report on CSCO
Cisco Systems Stock Performance
NASDAQ CSCO opened at $79.02 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. Cisco Systems, Inc. has a 52 week low of $52.11 and a 52 week high of $88.18. The business has a 50 day moving average price of $79.36 and a 200-day moving average price of $75.62. The company has a market cap of $312.12 billion, a price-to-earnings ratio of 27.73, a P/E/G ratio of 2.98 and a beta of 0.83.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (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 return on equity of 27.88% and a net margin of 19.22%.Cisco Systems's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business earned $0.94 EPS. As a group, equities analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.
Cisco Systems Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be issued a dividend of $0.42 per share. This is an increase from Cisco Systems's previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Thursday, April 2nd. Cisco Systems's dividend payout ratio is 58.95%.
About Cisco Systems
(
Free Report)
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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