Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Rathbones Group PLC

Rathbones Group PLC lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 292,031 shares of the network equipment provider's stock after selling 9,972 shares during the quarter. Rathbones Group PLC's holdings in Cisco Systems were worth $17,288,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Quarry LP grew its holdings in shares of Cisco Systems by 92.3% in the third quarter. Quarry LP now owns 1,271 shares of the network equipment provider's stock worth $68,000 after purchasing an additional 610 shares during the last quarter. MML Investors Services LLC grew its stake in Cisco Systems by 1.4% in the 3rd quarter. MML Investors Services LLC now owns 932,221 shares of the network equipment provider's stock worth $49,613,000 after acquiring an additional 12,849 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Cisco Systems by 2.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,583,832 shares of the network equipment provider's stock worth $137,512,000 after acquiring an additional 52,242 shares during the period. Cape Cod Five Cents Savings Bank raised its stake in shares of Cisco Systems by 13.2% during the third quarter. Cape Cod Five Cents Savings Bank now owns 16,278 shares of the network equipment provider's stock valued at $866,000 after acquiring an additional 1,900 shares in the last quarter. Finally, EWA LLC purchased a new stake in shares of Cisco Systems in the third quarter valued at approximately $298,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Rosenblatt Securities raised Cisco Systems from a "neutral" rating to a "buy" rating and lifted their target price for the company from $66.00 to $80.00 in a research report 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, March 5th. Piper Sandler cut their target price on shares of Cisco Systems from $72.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday. UBS Group upped their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Finally, Morgan Stanley lifted their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Cisco Systems presently has a consensus rating of "Moderate Buy" and an average target price of $66.00.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. This trade represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, 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 sold a total of 66,547 shares of company stock valued at $4,275,553 over the last 90 days. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

CSCO stock traded up $0.76 during midday trading on Friday, reaching $57.35. The stock had a trading volume of 9,769,020 shares, compared to its average volume of 20,032,734. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The firm has a fifty day simple moving average of $61.38 and a two-hundred day simple moving average of $58.98. The stock has a market cap of $228.15 billion, a PE ratio of 24.93, a P/E/G ratio of 4.16 and a beta of 0.86. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a $0.41 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.86%. This is a positive change from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio is presently 71.62%.

Cisco Systems declared that its board has authorized a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to buy 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 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.