Sompo Asset Management Co. Ltd. Sells 4,690 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Sompo Asset Management Co. Ltd. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,800 shares of the network equipment provider's stock after selling 4,690 shares during the quarter. Cisco Systems comprises 1.0% of Sompo Asset Management Co. Ltd.'s portfolio, making the stock its 27th biggest holding. Sompo Asset Management Co. Ltd.'s holdings in Cisco Systems were worth $5,908,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new stake in Cisco Systems in the 4th quarter worth approximately $26,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter worth $30,000. Campbell Capital Management Inc. bought a new stake in shares of Cisco Systems during the 4th quarter worth $31,000. Highline Wealth Partners LLC grew its stake in Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock valued at $35,000 after buying an additional 260 shares during the last quarter. Finally, Synergy Investment Management LLC acquired a new position in Cisco Systems during the 4th quarter worth $36,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Trading Up 0.7 %

NASDAQ:CSCO traded up $0.42 during trading hours on Friday, hitting $56.71. 16,493,138 shares of the stock were exchanged, compared to its average volume of 20,228,446. The company has a market capitalization of $225.61 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The company's 50 day moving average is $59.83 and its two-hundred day moving average is $59.23. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. On average, sell-side analysts anticipate 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 was paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd were paid a $0.41 dividend. The ex-dividend date was Thursday, April 3rd. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 2.89%. Cisco Systems's dividend payout ratio (DPR) is presently 71.62%.

Cisco Systems declared that its board has authorized a stock buyback program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CSCO. Piper Sandler lowered their target price on Cisco Systems from $72.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. BNP Paribas upgraded shares of Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 target price for the company in a research note on Tuesday, January 28th. Melius Research upgraded Cisco Systems from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. The Goldman Sachs Group lifted their price objective on Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Cisco Systems from $73.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $64.68.

Insiders Place Their Bets

In related news, CFO Richard Scott Herren sold 19,929 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the completion of the transaction, the chief financial officer now owns 335,605 shares in the company, valued at approximately $21,616,318.05. The trade was a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now owns 191,184 shares in the company, valued at approximately $11,604,868.80. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,547 shares of company stock valued at $4,275,553. Company insiders own 0.01% of the company's stock.

Cisco Systems Profile

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.