KRS Capital Management LLC Decreases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

KRS Capital Management LLC reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,094 shares of the network equipment provider’s stock after selling 962 shares during the period. KRS Capital Management LLC’s holdings in Cisco Systems were worth $803,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CSCO. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Cisco Systems by 1,096.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock valued at $146,845,000 after purchasing an additional 2,663,676 shares during the last quarter. Roble Belko & Company Inc raised its stake in Cisco Systems by 77.1% in the 4th quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock valued at $324,000 after purchasing an additional 2,788 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Cisco Systems in the 4th quarter valued at about $28,685,000. Adage Capital Partners GP L.L.C. raised its stake in Cisco Systems by 1.1% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock valued at $240,335,000 after purchasing an additional 49,700 shares during the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC raised its stake in Cisco Systems by 0.6% in the 4th quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock valued at $9,734,000 after purchasing an additional 1,097 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Citigroup assumed coverage on shares of Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a research note on Monday, May 13th. Wells Fargo & Company upped their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research note on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Hold” and an average target price of $56.47.

Cisco Systems Stock Performance

Cisco Systems stock opened at $47.51 on Friday. The stock has a market cap of $191.41 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 2.75 and a beta of 0.85. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The stock has a 50 day moving average of $47.06 and a 200-day moving average of $48.79. Cisco Systems, Inc. has a 52 week low of $44.95 and a 52 week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the prior year, the business posted $0.88 EPS. The business’s revenue was down 12.8% on a year-over-year basis. On average, analysts expect that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the sale, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the transaction, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The disclosure for this sale can be found here. Insiders have sold 41,106 shares of company stock worth $1,908,923 over the last ninety days. 0.02% of the stock is owned by 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.