Pzena Investment Management LLC Purchases 3,594 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Pzena Investment Management LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 583,559 shares of the network equipment provider’s stock after acquiring an additional 3,594 shares during the quarter. Pzena Investment Management LLC’s holdings in Cisco Systems were worth $29,481,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in Cisco Systems by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after acquiring an additional 6,345,954 shares during the period. FMR LLC grew its position in Cisco Systems by 3.2% in the 3rd quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock worth $3,069,815,000 after purchasing an additional 1,790,717 shares during the last quarter. Northern Trust Corp grew its position in Cisco Systems by 3.8% in the 3rd quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock worth $2,717,537,000 after purchasing an additional 1,847,682 shares during the last quarter. Norges Bank acquired a new stake in Cisco Systems in the 4th quarter worth $2,528,939,000. Finally, Invesco Ltd. grew its position in Cisco Systems by 3.7% in the 3rd quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock worth $1,802,909,000 after purchasing an additional 1,181,327 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several research analyst reports. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. Citigroup initiated coverage on shares of Cisco Systems in a research report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. Barclays lifted their target price on shares of Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, May 17th. Finally, Piper Sandler reiterated a “neutral” rating and set a $52.00 target price (up from $51.00) on shares of Cisco Systems in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $56.47.

Insider Buying and Selling

In related news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the transaction, the executive vice president now owns 180,705 shares in the company, valued at $8,717,209.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. Insiders sold a total of 27,457 shares of company stock valued at $1,358,772 over the last ninety days. Insiders own 0.02% of the company’s stock.

Cisco Systems Trading Down 0.8 %

Shares of CSCO traded down $0.37 on Thursday, reaching $47.06. 4,220,604 shares of the company’s stock were exchanged, compared to its average volume of 19,280,488. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $190.55 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 2.73 and a beta of 0.87. The business has a 50 day moving average price of $48.51 and a two-hundred day moving average price of $49.39. Cisco Systems, Inc. has a 12 month low of $46.20 and a 12 month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. Cisco Systems’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 earnings per share. Research analysts anticipate that Cisco Systems, Inc. will post 3.13 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Cisco Systems 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.