Main Street Research LLC Lowers Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Main Street Research LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,281 shares of the network equipment provider’s stock after selling 383 shares during the period. Main Street Research LLC’s holdings in Cisco Systems were worth $570,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. State Street Corp increased its position in shares of Cisco Systems by 2.2% in the 1st quarter. State Street Corp now owns 184,879,450 shares of the network equipment provider’s stock valued at $9,664,544,000 after acquiring an additional 4,061,022 shares during the period. Morgan Stanley boosted its holdings in Cisco Systems by 17.4% in the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock valued at $2,943,593,000 after purchasing an additional 9,160,347 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Cisco Systems by 112,307.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock valued at $2,835,509,000 after purchasing an additional 59,466,550 shares during the last quarter. FMR LLC boosted its holdings in Cisco Systems by 3.2% in the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock valued at $3,069,815,000 after purchasing an additional 1,790,717 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Cisco Systems by 6.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock valued at $2,975,139,000 after purchasing an additional 3,087,294 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In related news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now directly owns 191,559 shares in the company, valued at $9,579,865.59. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The disclosure for this sale can be found here. In the last three months, insiders sold 19,441 shares of company stock valued at $972,080. Insiders own 0.02% of the company’s stock.

Cisco Systems Stock Down 0.3 %

Shares of Cisco Systems stock traded down $0.13 during trading on Tuesday, hitting $48.11. 6,453,327 shares of the stock were exchanged, compared to its average volume of 19,537,123. The stock has a market cap of $194.81 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 2.78 and a beta of 0.87. The firm’s 50-day moving average price is $49.22 and its 200 day moving average price is $50.37. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.03. The business had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 EPS. As a group, analysts forecast that Cisco Systems, Inc. will post 3.15 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be given a dividend of $0.40 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. 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. Cisco Systems’s payout ratio is 48.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CSCO shares. Melius Research reaffirmed a “hold” rating and issued a $55.00 price target on shares of Cisco Systems in a report on Monday, January 8th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. Barclays increased their price objective 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. Piper Sandler raised their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Finally, Morgan Stanley assumed coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price target for the company. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $56.03.

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.