Lee Danner & Bass Inc. Has $5.32 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Lee Danner & Bass Inc. cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 9.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 89,892 shares of the network equipment provider's stock after selling 9,120 shares during the period. Lee Danner & Bass Inc.'s holdings in Cisco Systems were worth $5,322,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. State Street Corp lifted its stake in shares of 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. Geode Capital Management LLC raised its position 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 in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Cisco Systems by 2.1% in 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 purchasing an additional 1,677,383 shares in the last quarter. FMR LLC boosted its stake 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 valued at $3,402,432,000 after buying an additional 5,885,879 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Cisco Systems by 1.2% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

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Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of recent analyst reports. Wells Fargo & Company restated an "equal weight" rating on shares of Cisco Systems in a research note on Thursday, March 6th. Piper Sandler restated a "neutral" rating on shares of Cisco Systems in a research note on Thursday, March 6th. Melius upgraded Cisco Systems from a "hold" rating to a "buy" rating and lifted their target price for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Melius Research raised Cisco Systems from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Finally, The Goldman Sachs Group lifted their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Seven investment 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 company's stock. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.63.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares of the company's stock, valued at $11,604,868.80. The trade was a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares of the company's stock, valued at $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock valued at $4,275,553 over the last quarter. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

CSCO stock traded up $0.02 during trading on Tuesday, reaching $60.99. 20,875,770 shares of the company's stock were exchanged, compared to its average volume of 18,012,449. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The firm has a market cap of $242.64 billion, a PE ratio of 26.63, a P/E/G ratio of 4.16 and a beta of 0.79. The company's fifty day moving average price is $62.00 and its 200-day moving average price is $58.25. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data 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, research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is 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 currently 71.62%.

Cisco Systems announced that its board has approved a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

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.