Moran Wealth Management LLC Sells 18,001 Shares of Cisco Systems, Inc. $CSCO

Moran Wealth Management LLC lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 274,480 shares of the network equipment provider’s stock after selling 18,001 shares during the quarter. Moran Wealth Management LLC’s holdings in Cisco Systems were worth $21,143,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Invesco Ltd. increased its stake in shares of Cisco Systems by 10.5% in the third quarter. Invesco Ltd. now owns 53,612,720 shares of the network equipment provider’s stock valued at $3,668,182,000 after buying an additional 5,081,469 shares in the last quarter. Northern Trust Corp lifted its position in Cisco Systems by 3.5% during the 3rd quarter. Northern Trust Corp now owns 48,498,612 shares of the network equipment provider’s stock worth $3,318,275,000 after buying an additional 1,631,703 shares in the last quarter. Franklin Resources Inc. grew its holdings in Cisco Systems by 4.4% during the 3rd quarter. Franklin Resources Inc. now owns 42,641,483 shares of the network equipment provider’s stock worth $2,917,530,000 after acquiring an additional 1,804,625 shares during the last quarter. Legal & General Group Plc increased its position in Cisco Systems by 7.2% in the 3rd quarter. Legal & General Group Plc now owns 37,674,954 shares of the network equipment provider’s stock valued at $2,577,720,000 after acquiring an additional 2,535,716 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Cisco Systems by 19.5% in the 3rd quarter. Wellington Management Group LLP now owns 33,748,414 shares of the network equipment provider’s stock valued at $2,309,066,000 after acquiring an additional 5,498,375 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

CSCO stock opened at $86.25 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. Cisco Systems, Inc. has a twelve month low of $53.83 and a twelve month high of $88.18. The business’s fifty day moving average is $79.86 and its 200-day moving average is $76.67. The company has a market cap of $340.68 billion, a P/E ratio of 30.26, a price-to-earnings-growth ratio of 3.19 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The business had revenue of $15.35 billion during the quarter, compared to the consensus estimate of $15.11 billion. During the same quarter in the prior year, the company posted $0.94 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be given a $0.42 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s dividend payout ratio is 58.95%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Citigroup upped their target price on shares of Cisco Systems from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. President Capital reduced their price objective on Cisco Systems from $90.00 to $88.00 in a report on Wednesday, December 24th. DZ Bank raised Cisco Systems to a “strong-buy” rating in a research note on Friday, February 13th. Zacks Research lowered Cisco Systems from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Evercore upgraded Cisco Systems from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $80.00 to $100.00 in a research report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.81.

Insider Buying and Selling at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 7,981 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $79.50, for a total transaction of $634,489.50. Following the completion of the transaction, the executive vice president owned 187,097 shares in the company, valued at approximately $14,874,211.50. The trade was a 4.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Oliver Tuszik sold 3,132 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $79.74, for a total transaction of $249,745.68. Following the completion of the sale, the executive vice president directly owned 188,613 shares of the company’s stock, valued at $15,040,000.62. The trade was a 1.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 46,431 shares of company stock worth $3,574,820 over the last ninety days. 0.01% of the stock is owned by corporate insiders.

About Cisco Systems

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.