Securian Asset Management Inc. Sells 84,089 Shares of Cisco Systems, Inc. $CSCO

Key Points

• Securian Asset Management cut its Cisco position by 44% in the fourth quarter, selling 84,089 shares and leaving it with 107,156 shares valued at about $8.25 million.
• Cisco posted solid quarterly results, with EPS of $1.04 and revenue of $15.35 billion, both ahead of analyst expectations; revenue also rose 9.7% year over year.
• The company recently raised its dividend to $0.42 per share quarterly, while analysts remain generally constructive with a “Moderate Buy” consensus and an average price target of $90.29.

Securian Asset Management Inc. decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 44.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 107,156 shares of the network equipment provider's stock after selling 84,089 shares during the quarter. Securian Asset Management Inc.'s holdings in Cisco Systems were worth $8,254,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew 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 buying an additional 4,049,893 shares in the last quarter. 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 in the last quarter. Northern Trust Corp grew its stake in shares of Cisco Systems by 3.5% in the 3rd quarter. Northern Trust Corp now owns 48,498,612 shares of the network equipment provider's stock valued at $3,318,275,000 after buying an additional 1,631,703 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Cisco Systems by 4.4% in the 3rd quarter. Franklin Resources Inc. now owns 42,641,483 shares of the network equipment provider's stock worth $2,917,530,000 after purchasing an additional 1,804,625 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Cisco Systems by 7.2% in the 3rd quarter. Legal & General Group Plc now owns 37,674,954 shares of the network equipment provider's stock worth $2,577,720,000 after purchasing an additional 2,535,716 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Cisco Systems News Summary

Here are the key news stories impacting Cisco Systems this week:

• Positive Sentiment: Cisco is drawing heavier investor attention ahead of earnings, which can support trading volume and sentiment as traders position for a potential report-driven move. Cisco Systems, Inc. (CSCO) Is a Trending Stock: Facts to Know Before Betting on It
• Positive Sentiment: Analysts are continuing to frame Cisco’s investment case around its next quarterly results, with some views slightly improving fair value estimates, suggesting lingering confidence in the company’s fundamentals. How The Cisco Systems (CSCO) Investment Story Is Shifting As Analyst Views Diverge
• Neutral Sentiment: Cisco is set to participate in multiple upcoming financial-community events in May and June, which keeps management visible to investors but does not directly change the fundamentals. Cisco to Participate in May & June Events with the Financial Community
• Neutral Sentiment: Wall Street estimates for Cisco’s upcoming quarter are being closely dissected, but this is mainly an expectations check ahead of earnings rather than a new business catalyst. Unlocking Q3 Potential of Cisco (CSCO): Exploring Wall Street Estimates for Key Metrics
• Negative Sentiment: Recent coverage noted Cisco shares underperformed the broader market and dropped in the latest session, showing some near-term pressure before the company’s next earnings catalyst. Cisco Systems (CSCO) Stock Drops Despite Market Gains: Important Facts to Note

Cisco Systems Price Performance

Shares of CSCO stock opened at $96.57 on Monday. Cisco Systems, Inc. has a 12 month low of $59.44 and a 12 month high of $97.02. The firm has a market cap of $381.44 billion, a PE ratio of 33.88, a price-to-earnings-growth ratio of 3.62 and a beta of 0.92. The stock has a 50 day moving average of $82.32 and a 200-day moving average of $78.56. 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 (NASDAQ:CSCO - Get Free Report) last issued 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. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The company had revenue of $15.35 billion during the quarter, compared to analyst estimates of $15.11 billion. During the same period in the previous year, the company earned $0.94 earnings per share. The company's quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities analysts predict that Cisco Systems, Inc. will post 3.42 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from Cisco Systems's previous quarterly dividend of $0.41. The ex-dividend date was Thursday, April 2nd. Cisco Systems's dividend payout ratio is presently 58.95%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a "buy (b)" rating on shares of Cisco Systems in a report on Friday, April 24th. JPMorgan Chase & Co. boosted their target price on Cisco Systems from $95.00 to $96.00 and gave the stock an "overweight" rating in a report on Thursday, April 16th. Truist Financial assumed coverage on Cisco Systems in a report on Tuesday, March 31st. They issued a "buy" rating and a $94.00 target price for the company. UBS Group boosted their target price on Cisco Systems from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, February 12th. Finally, CICC Research boosted their target price on Cisco Systems from $84.00 to $96.00 and gave the stock an "outperform" rating in a report on Friday, February 13th. Three equities research 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 company's stock. According to MarketBeat.com, Cisco Systems has an average rating of "Moderate Buy" and an average price target of $90.29.

Insider Activity at Cisco Systems

In other news, EVP Oliver Tuszik sold 3,132 shares of the company's stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $79.74, for a total transaction of $249,745.68. Following the completion of the transaction, the executive vice president directly owned 188,613 shares in the company, valued at $15,040,000.62. The trade was a 1.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 19,545 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer owned 671,095 shares of the company's stock, valued at approximately $51,003,220. This trade represents a 2.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 46,431 shares of company stock valued at $3,574,820. 0.01% of the stock is owned by corporate insiders.

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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