Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 21.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,991,277 shares of the network equipment provider’s stock after selling 11,628,554 shares during the quarter. Wellington Management Group LLP owned about 1.08% of Cisco Systems worth $2,545,084,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSCO. O Shaughnessy Asset Management LLC increased its stake in Cisco Systems by 22.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 595,010 shares of the network equipment provider’s stock worth $35,225,000 after acquiring an additional 109,526 shares during the last quarter. Walled Lake Planning & Wealth Management LLC increased its position in Cisco Systems by 0.9% during the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 124,552 shares of the network equipment provider’s stock worth $7,373,000 after purchasing an additional 1,099 shares in the last quarter. United Bank raised its holdings in Cisco Systems by 5.6% in the fourth quarter. United Bank now owns 29,908 shares of the network equipment provider’s stock valued at $1,771,000 after buying an additional 1,589 shares during the period. Physician Wealth Advisors Inc. acquired a new position in Cisco Systems during the fourth quarter valued at approximately $181,000. Finally, RWA Wealth Partners LLC grew its stake in Cisco Systems by 6.8% during the fourth quarter. RWA Wealth Partners LLC now owns 212,406 shares of the network equipment provider’s stock worth $12,574,000 after buying an additional 13,475 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Rosenblatt Securities raised Cisco Systems from a “neutral” rating to a “buy” rating and raised their price objective for the company from $66.00 to $80.00 in a research report on Thursday, February 13th. Piper Sandler reaffirmed a “neutral” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Finally, StockNews.com cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $66.63.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $60.86 on Monday. The stock has a market capitalization of $242.12 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The company’s 50-day simple moving average is $62.11 and its 200-day simple moving average is $58.60. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.

Cisco Systems (NASDAQ:CSCO) 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%. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.69%. Cisco Systems’s payout ratio is presently 71.62%.

Cisco Systems declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 31,983 shares of the 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 sale, the chief executive officer now owns 736,120 shares in the company, valued at $47,413,489.20. This represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems 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 $1,283,626.89. Following the completion of the transaction, the chief financial officer now owns 335,605 shares of the company’s stock, valued at approximately $21,616,318.05. The trade was a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,547 shares of company stock valued at $4,275,553. 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.