Two Sigma Advisers LP reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,371,200 shares of the network equipment provider's stock after selling 447,800 shares during the quarter. Cisco Systems makes up 0.9% of Two Sigma Advisers LP's investment portfolio, making the stock its 27th biggest holding. Two Sigma Advisers LP owned about 0.16% of Cisco Systems worth $377,175,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Norges Bank purchased a new stake in shares of Cisco Systems during the 4th quarter worth approximately $3,297,905,000. FMR LLC raised its stake in Cisco Systems by 20.8% during the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after acquiring an additional 13,285,052 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Cisco Systems in the fourth quarter valued at $560,722,000. Alyeska Investment Group L.P. acquired a new position in Cisco Systems in the fourth quarter valued at $413,491,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Cisco Systems by 187.9% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock worth $442,749,000 after purchasing an additional 4,880,747 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.
Analyst Ratings Changes
A number of research firms recently issued reports on CSCO. Barclays raised their price target on Cisco Systems from $61.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 15th. Citigroup lifted their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Piper Sandler increased their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Rosenblatt Securities increased their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, The Goldman Sachs Group lifted their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $68.00.
Check Out Our Latest Research Report on Cisco Systems
Insider Activity
In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares of the company's stock, valued at $2,693,013.45. This trade represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of Cisco Systems stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the transaction, the executive vice president now owns 181,186 shares in the company, valued at approximately $11,505,311. This trade represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,239 shares of company stock valued at $2,181,437 over the last quarter. Company insiders own 0.01% of the company's stock.
Cisco Systems Price Performance
CSCO traded down $0.50 during midday trading on Tuesday, reaching $63.42. 14,991,525 shares of the company's stock were exchanged, compared to its average volume of 20,368,936. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The stock has a market capitalization of $252.30 billion, a PE ratio of 27.69, a P/E/G ratio of 4.16 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The business's 50-day moving average price is $58.89 and its 200 day moving average price is $59.81.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 earnings per share. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is 66.94%.
Cisco Systems declared that its board has approved a share repurchase program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.
Cisco Systems Profile
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Free Report)
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.
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