Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Schrum Private Wealth Management LLC

Schrum Private Wealth Management LLC lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 52.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,768 shares of the network equipment provider’s stock after selling 5,328 shares during the period. Schrum Private Wealth Management LLC’s holdings in Cisco Systems were worth $282,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after acquiring an additional 3,241,682 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Cisco Systems by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock valued at $5,075,320,000 after purchasing an additional 1,262,017 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Cisco Systems by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock valued at $4,402,239,000 after buying an additional 1,677,383 shares during the period. FMR LLC increased its holdings in shares of Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after buying an additional 5,885,879 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Cisco Systems by 1.2% in the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock worth $1,107,930,000 after buying an additional 216,632 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the transaction, the senior vice president now directly owns 50,767 shares in the company, valued at $2,979,515.23. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 11,808 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $64.37, for a total value of $760,080.96. Following the completion of the sale, the executive vice president now owns 200,191 shares in the company, valued at $12,886,294.67. This represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,848 shares of company stock valued at $4,767,206 over the last 90 days. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $63.96 on Thursday. The stock has a market cap of $254.45 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. The stock has a 50-day moving average of $61.47 and a 200-day moving average of $57.20. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last announced 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 return on equity of 26.08% and a net margin of 16.96%. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its board has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.56%. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

Analyst Ratings Changes

Several equities research analysts have commented on CSCO shares. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target for the company in a research note on Tuesday, January 28th. Piper Sandler raised their price target on shares of Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Morgan Stanley boosted their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Rosenblatt Securities raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $66.00 to $80.00 in a research note on Thursday, February 13th. Finally, Wells Fargo & Company boosted their price target on Cisco Systems from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $66.63.

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.