KG&L Capital Management LLC Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

KG&L Capital Management LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 73.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,242 shares of the network equipment provider's stock after selling 14,264 shares during the period. KG&L Capital Management LLC's holdings in Cisco Systems were worth $310,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. FMR LLC increased its position in shares of Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider's stock worth $3,402,432,000 after purchasing an additional 5,885,879 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of Cisco Systems by 327.5% in the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider's stock worth $362,907,000 after buying an additional 5,223,800 shares during the last quarter. Pathway Financial Advisers LLC raised its position in shares of Cisco Systems by 5,231.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider's stock valued at $262,646,000 after buying an additional 4,842,542 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Cisco Systems by 79.6% during the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider's stock worth $477,463,000 after acquiring an additional 3,975,028 shares during the last quarter. Finally, State Street Corp grew its position in Cisco Systems by 1.7% in the third 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 in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CSCO. Morgan Stanley increased their price objective on Cisco Systems from $62.00 to $68.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. StockNews.com raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. raised Cisco Systems from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Tigress Financial lifted their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Finally, Piper Sandler raised their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems has a consensus rating of "Moderate Buy" and a consensus target price of $62.72.

Cisco Systems Stock Performance

CSCO traded up $1.15 on Wednesday, reaching $62.49. 9,619,252 shares of the stock were exchanged, compared to its average volume of 18,356,766. The company's 50-day moving average price is $59.52 and its 200 day moving average price is $54.77. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The firm has a market capitalization of $248.90 billion, a PE ratio of 26.81, a PEG ratio of 4.51 and a beta of 0.84. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $62.49.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems's quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date was Friday, January 3rd. Cisco Systems's dividend payout ratio is currently 68.67%.

Insiders Place Their Bets

In other news, Director Kristina M. Johnson sold 7,500 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the completion of the transaction, the director now owns 65,915 shares of the company's stock, valued at approximately $3,946,331.05. This trade represents a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the sale, the executive vice president now owns 213,834 shares in the company, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 over the last ninety days. Company insiders own 0.01% of the company's stock.

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.