Desjardins Global Asset Management Inc. Sells 5,486 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Desjardins Global Asset Management Inc. cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.4% during the 4th quarter, Holdings Channel reports. The firm owned 80,034 shares of the network equipment provider’s stock after selling 5,486 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Cisco Systems were worth $4,043,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wealthspire Advisors LLC boosted its position in Cisco Systems by 48.1% during the 3rd quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock valued at $3,838,000 after acquiring an additional 23,194 shares in the last quarter. HBK Sorce Advisory LLC boosted its position in Cisco Systems by 0.5% during the 3rd quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock valued at $3,448,000 after acquiring an additional 301 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Cisco Systems during the 4th quarter valued at approximately $28,685,000. Adage Capital Partners GP L.L.C. boosted its position in Cisco Systems by 1.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock valued at $240,335,000 after acquiring an additional 49,700 shares in the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC boosted its position in Cisco Systems by 0.6% during the 4th quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock valued at $9,734,000 after acquiring an additional 1,097 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Price Performance

Cisco Systems stock traded down $0.14 during mid-day trading on Tuesday, hitting $48.10. The stock had a trading volume of 8,780,290 shares, compared to its average volume of 19,568,238. The firm has a market capitalization of $194.77 billion, a P/E ratio of 14.62, a P/E/G ratio of 2.78 and a beta of 0.87. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average is $49.22 and its 200 day moving average is $50.37. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.03. The company had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. Cisco Systems’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 3.15 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Wednesday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is 48.63%.

Analyst Upgrades and Downgrades

CSCO has been the topic of several research reports. Piper Sandler lifted their price objective on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Barclays lifted their target price on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $56.03.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock valued at $972,080 in the last 90 days. Insiders own 0.02% 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.