Shelton Capital Management Lowers Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Shelton Capital Management lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 32.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 558,115 shares of the network equipment provider's stock after selling 267,269 shares during the quarter. Cisco Systems makes up approximately 0.8% of Shelton Capital Management's portfolio, making the stock its 14th biggest position. Shelton Capital Management's holdings in Cisco Systems were worth $33,040,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in CSCO. Pflug Koory LLC increased its stake in shares of Cisco Systems by 0.5% during the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider's stock valued at $1,955,000 after buying an additional 165 shares during the period. Fairhaven Wealth Management LLC grew its holdings in Cisco Systems by 2.3% during the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock worth $449,000 after acquiring an additional 167 shares in the last quarter. BlackDiamond Wealth Management LLC increased its position in Cisco Systems by 3.1% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock valued at $335,000 after purchasing an additional 168 shares during the period. Maple Capital Management Inc. raised its holdings in shares of Cisco Systems by 1.4% in the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock valued at $709,000 after purchasing an additional 170 shares in the last quarter. Finally, Pathway Financial Advisors LLC lifted its position in shares of Cisco Systems by 3.1% in the 4th quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider's stock worth $343,000 after purchasing an additional 172 shares during the period. Institutional investors own 73.33% of the company's stock.

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Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. StockNews.com downgraded shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 5th. DZ Bank raised Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. BNP Paribas raised Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price objective on the stock in a research report on Tuesday, January 28th. Piper Sandler reduced their target price on shares of Cisco Systems from $72.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their price target on shares of Cisco Systems from $69.00 to $73.00 and gave the company an "overweight" rating in a research 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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 company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the sale, the chief executive officer now owns 736,120 shares in the company, valued at approximately $47,413,489.20. This represents a 4.16 % decrease in their position. 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 traded up $0.74 on Friday, reaching $57.33. 9,769,020 shares of the stock were exchanged, compared to its average volume of 20,032,734. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The company's 50-day moving average price is $61.38 and its 200 day moving average price is $58.98. The firm has a market capitalization of $228.06 billion, a PE ratio of 24.93, a PEG ratio of 4.16 and a beta of 0.86. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two 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, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal 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 of this dividend 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.

About Cisco Systems

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.