KLCM Advisors Inc. Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

KLCM Advisors Inc. cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 288,132 shares of the network equipment provider's stock after selling 9,477 shares during the quarter. Cisco Systems accounts for about 2.0% of KLCM Advisors Inc.'s holdings, making the stock its 14th biggest holding. KLCM Advisors Inc.'s holdings in Cisco Systems were worth $17,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 586 shares of the firm's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the transaction, the senior vice president now directly owns 50,767 shares in the company, valued at $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the transaction, the chief executive officer now owns 736,120 shares in the company, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,921 shares of company stock valued at $4,298,667 over the last quarter. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Down 0.3 %

Shares of CSCO stock traded down $0.17 during midday trading on Thursday, reaching $64.67. 14,823,623 shares of the stock were exchanged, compared to its average volume of 19,789,303. The firm has a market cap of $257.57 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company's 50 day moving average is $60.43 and its two-hundred day moving average is $55.95. 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 quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share 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, equities research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its Board of Directors has initiated a stock repurchase program 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 reacquire up to 6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm 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 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 2.54%. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems's dividend payout ratio (DPR) is 69.87%.

Wall Street Analyst Weigh In

Several analysts have weighed in on CSCO shares. Melius raised shares of Cisco Systems from a "hold" rating to a "buy" rating and boosted their price target for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Rosenblatt Securities raised Cisco Systems from a "neutral" rating to a "buy" rating and boosted their target price for the company from $66.00 to $80.00 in a research note on Thursday, February 13th. Piper Sandler raised their price target on Cisco Systems from $57.00 to $72.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. StockNews.com upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, February 14th. Finally, Barclays raised their target price on shares of Cisco Systems from $56.00 to $61.00 and gave the stock an "equal weight" rating in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $66.53.

Cisco Systems Company 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.