Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 214,231 shares of the network equipment provider’s stock after selling 8,595 shares during the period. Securian Asset Management Inc.’s holdings in Cisco Systems were worth $12,682,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CSCO. FPC Investment Advisory Inc. acquired a new position in Cisco Systems during the 4th quarter worth approximately $26,000. Highline Wealth Partners LLC increased its position in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares during the period. Synergy Investment Management LLC acquired a new position in Cisco Systems during the 4th quarter worth approximately $36,000. RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems during the 3rd quarter worth approximately $40,000. Finally, Decker Retirement Planning Inc. acquired a new position in Cisco Systems during the 4th quarter worth approximately $49,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 11,808 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $64.37, for a total value of $760,080.96. Following the completion of the sale, the executive vice president now directly owns 200,191 shares in the company, valued at approximately $12,886,294.67. This represents a 5.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the stock in a transaction 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 sale, the chief executive officer now owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,348 shares of company stock worth $4,318,181 in the last ninety days. Insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Piper Sandler reiterated a “neutral” rating on shares of Cisco Systems in a research report on Thursday, March 6th. JPMorgan Chase & Co. boosted their price target on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. The Goldman Sachs Group boosted their price target on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a research note on Tuesday, January 28th. Finally, Citigroup reissued an “overweight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $66.63.

Cisco Systems Trading Down 2.2 %

Shares of Cisco Systems stock opened at $60.67 on Wednesday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The firm has a market cap of $241.36 billion, a PE ratio of 26.49, a P/E/G ratio of 4.16 and a beta of 0.79. The business’s fifty day moving average is $61.72 and its two-hundred day moving average is $57.60. 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) last released its quarterly earnings data 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%. Analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.70%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is presently 71.62%.

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.