Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Andra AP fonden

Andra AP fonden lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 19.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,800 shares of the network equipment provider's stock after selling 69,300 shares during the quarter. Andra AP fonden's holdings in Cisco Systems were worth $16,860,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in Cisco Systems by 7.3% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 28,668 shares of the network equipment provider's stock valued at $1,697,000 after purchasing an additional 1,943 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its position in shares of Cisco Systems by 13.1% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 187,170 shares of the network equipment provider's stock valued at $11,080,000 after acquiring an additional 21,617 shares during the period. Callan Family Office LLC increased its position in shares of Cisco Systems by 332.1% in the 4th quarter. Callan Family Office LLC now owns 81,867 shares of the network equipment provider's stock valued at $4,847,000 after acquiring an additional 62,919 shares during the period. Hartford Funds Management Co LLC raised its stake in Cisco Systems by 14.6% in the 4th quarter. Hartford Funds Management Co LLC now owns 21,210 shares of the network equipment provider's stock worth $1,256,000 after acquiring an additional 2,706 shares during the last quarter. Finally, Welch & Forbes LLC lifted its position in Cisco Systems by 1.0% during the 4th quarter. Welch & Forbes LLC now owns 638,752 shares of the network equipment provider's stock worth $37,814,000 after acquiring an additional 6,345 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

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Cisco Systems Price Performance

CSCO traded up $0.53 during trading on Friday, hitting $63.94. The company's stock had a trading volume of 21,153,303 shares, compared to its average volume of 20,042,023. The firm has a market capitalization of $254.37 billion, a price-to-earnings ratio of 27.92, a P/E/G ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The business's fifty day simple moving average is $61.63 and its 200 day simple moving average is $57.39. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio is 71.62%.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. DZ Bank raised Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Morgan Stanley increased their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. UBS Group lifted their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. StockNews.com lowered shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Wednesday. Finally, Piper Sandler restated a "neutral" rating on shares of Cisco Systems in a research report on Thursday. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $66.63.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the transaction, the senior vice president now directly owns 50,767 shares of the company's stock, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 3,042 shares of Cisco Systems stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total transaction of $180,055.98. Following the sale, the executive vice president now directly owns 207,798 shares in the company, valued at approximately $12,299,563.62. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,348 shares of company stock valued at $4,318,181. 0.01% of the stock is owned by corporate insiders.

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.