Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Strs Ohio

Strs Ohio reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 14.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,170,419 shares of the network equipment provider's stock after selling 354,691 shares during the quarter. Strs Ohio owned 0.05% of Cisco Systems worth $109,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in shares of Cisco Systems by 13.7% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 35,066 shares of the network equipment provider's stock valued at $1,772,000 after purchasing an additional 4,235 shares in the last quarter. Conning Inc. lifted its holdings in Cisco Systems by 10.2% in the fourth quarter. Conning Inc. now owns 717,440 shares of the network equipment provider's stock valued at $36,175,000 after acquiring an additional 66,190 shares during the period. Carnegie Capital Asset Management LLC lifted its holdings in Cisco Systems by 7.6% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 424,181 shares of the network equipment provider's stock valued at $21,430,000 after acquiring an additional 29,844 shares during the period. River Street Advisors LLC lifted its holdings in Cisco Systems by 1.7% in the fourth quarter. River Street Advisors LLC now owns 12,921 shares of the network equipment provider's stock valued at $653,000 after acquiring an additional 219 shares during the period. Finally, Keene & Associates Inc. lifted its holdings in Cisco Systems by 0.9% in the fourth quarter. Keene & Associates Inc. now owns 70,511 shares of the network equipment provider's stock valued at $3,562,000 after acquiring an additional 620 shares during the period. 73.33% of the stock is owned by institutional investors.

Cisco Systems Trading Down 2.1 %

Shares of CSCO stock traded down $1.04 on Friday, reaching $48.49. 16,418,052 shares of the company's stock were exchanged, compared to its average volume of 19,337,124. Cisco Systems, Inc. has a 52 week low of $45.56 and a 52 week high of $58.19. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $196.35 billion, a PE ratio of 14.74, a P/E/G ratio of 2.78 and a beta of 0.87. The company's fifty day simple moving average is $49.25 and its 200 day simple moving average is $50.41.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.03. The firm had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. Cisco Systems's quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the company earned $0.76 EPS. As a group, analysts forecast that Cisco Systems, Inc. will post 3.15 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, April 3rd. This is a positive change from Cisco Systems's previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 3.30%. Cisco Systems's payout ratio is 48.63%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CSCO. Citigroup began coverage on Cisco Systems in a report on Friday. They issued a "neutral" rating and a $52.00 target price on the stock. Piper Sandler raised their price objective on Cisco Systems from $47.00 to $51.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 20th. UBS Group raised their price objective on Cisco Systems from $54.00 to $55.00 and gave the stock a "neutral" rating in a research note on Monday, February 12th. Melius downgraded Cisco Systems from a "buy" rating to a "hold" rating in a research note on Monday, January 8th. Finally, Melius Research reaffirmed a "hold" rating and issued a $55.00 price objective on shares of Cisco Systems in a research note on Monday, January 8th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $56.03.

Insider Activity

In other news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Maria Victoria Wong sold 2,497 shares of the business's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at approximately $2,906,050. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Richard Scott Herren sold 13,942 shares of the business's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is currently owned by company insiders.

About Cisco Systems

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.