Yacktman Asset Management LP Has $26.24 Million Stock Holdings in Cisco Systems, Inc. $CSCO

Key Points

• Yacktman Asset Management trimmed its Cisco stake by 5.4% in the fourth quarter, selling 19,538 shares and leaving it with 340,638 shares worth about $26.24 million.
• Institutional ownership remains high, with hedge funds and other investors owning 73.33% of Cisco’s stock, while several recent analyst reports were mixed but still centered around a Moderate Buy consensus and an average target price of $90.29.
• Cisco’s latest earnings beat expectations, and the company also raised its quarterly dividend to $0.42 per share, alongside recent insider selling and a strong share price move to near its 52-week high.

Yacktman Asset Management LP lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 5.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 340,638 shares of the network equipment provider's stock after selling 19,538 shares during the period. Yacktman Asset Management LP's holdings in Cisco Systems were worth $26,239,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Marquette Asset Management LLC acquired a new position in shares of Cisco Systems in the 3rd quarter valued at $25,000. EQ Wealth Advisors LLC acquired a new position in shares of Cisco Systems in the 4th quarter valued at $31,000. Board of the Pension Protection Fund acquired a new position in shares of Cisco Systems in the 4th quarter valued at $31,000. Cedar Mountain Advisors LLC grew its holdings in shares of Cisco Systems by 115.7% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider's stock valued at $32,000 after buying an additional 251 shares during the period. Finally, Anfield Capital Management LLC grew its holdings in shares of Cisco Systems by 248.9% in the 4th quarter. Anfield Capital Management LLC now owns 485 shares of the network equipment provider's stock valued at $37,000 after buying an additional 346 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CSCO. Truist Financial began coverage on shares of Cisco Systems in a report on Tuesday, March 31st. They issued a "buy" rating and a $94.00 price target for the company. Erste Group Bank lowered shares of Cisco Systems from a "buy" rating to a "hold" rating in a report on Wednesday, February 18th. Evercore boosted their price target on shares of Cisco Systems from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Wall Street Zen lowered shares of Cisco Systems from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. Finally, UBS Group boosted their price target on shares of Cisco Systems from $90.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, February 12th. Three equities research 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 company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $90.29.

More Cisco Systems News

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

Insider Activity

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,981 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $14,874,211.50. The trade was a 4.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 1,744 shares of the business's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $77.07, for a total transaction of $134,410.08. Following the sale, the executive vice president directly owned 156,693 shares in the company, valued at $12,076,329.51. This trade represents a 1.10% 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. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Trading Up 4.8%

CSCO opened at $96.57 on Friday. The stock has a market capitalization of $381.44 billion, a P/E ratio of 33.88, a P/E/G ratio of 3.46 and a beta of 0.92. Cisco Systems, Inc. has a 12 month low of $59.44 and a 12 month high of $97.02. The firm's fifty day simple moving average is $82.32 and its 200 day simple moving average is $78.56. 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 (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. The business 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%. The firm's revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 EPS. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.42 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd were given a dividend of $0.42 per share. 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 annualized dividend and a yield of 1.7%. Cisco Systems's payout ratio is presently 58.95%.

About Cisco Systems

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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