Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Arnhold LLC

Arnhold LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 7.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 399,359 shares of the network equipment provider's stock after selling 32,151 shares during the period. Cisco Systems accounts for approximately 2.3% of Arnhold LLC's portfolio, making the stock its 11th largest position. Arnhold LLC's holdings in Cisco Systems were worth $23,642,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. UP Strategic Wealth Investment Advisors LLC purchased a new stake in shares of Cisco Systems in the 4th quarter worth about $289,000. Rothschild Capital Partners LLC bought a new position in shares of Cisco Systems during the fourth quarter valued at approximately $310,000. Topsail Wealth Management LLC purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $333,000. Keyvantage Wealth LLC bought a new stake in shares of Cisco Systems in the 4th quarter worth approximately $643,000. Finally, Burling Wealth Partners LLC bought a new position in Cisco Systems during the 4th quarter valued at approximately $2,487,000. 73.33% of the stock is owned by institutional investors.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $1,283,626.89. Following the completion of the sale, the chief financial officer now directly owns 335,605 shares in the company, valued at $21,616,318.05. The trade was a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now owns 191,184 shares of the company's stock, valued at approximately $11,604,868.80. This represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,547 shares of company stock worth $4,275,553. Insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

CSCO stock traded up $0.13 during trading on Monday, reaching $56.84. The company's stock had a trading volume of 23,100,565 shares, compared to its average volume of 20,239,924. The company has a market capitalization of $226.13 billion, a P/E ratio of 24.82, 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 fifty day moving average is $59.83 and its 200-day moving average is $59.27. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its 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%. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Thursday, April 3rd. This is a positive change from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio (DPR) is 71.62%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CSCO shares. Citigroup dropped their target price on Cisco Systems from $73.00 to $68.00 and set a "buy" rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group increased their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Piper Sandler reduced their price objective on shares of Cisco Systems from $72.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. DZ Bank upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Cisco Systems from $73.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus target price of $65.05.

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.