Pacer Advisors Inc. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 572,228 shares of the network equipment provider’s stock after selling 14,029 shares during the quarter. Cisco Systems accounts for approximately 0.5% of Pacer Advisors Inc.’s holdings, making the stock its 22nd biggest holding. Pacer Advisors Inc.’s holdings in Cisco Systems were worth $29,590,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Costello Asset Management INC purchased a new stake in Cisco Systems in the 4th quarter worth about $26,000. Bainco International Investors purchased a new stake in Cisco Systems in the 4th quarter worth about $30,000. Navis Wealth Advisors LLC purchased a new stake in Cisco Systems in the 4th quarter worth about $30,000. Goodwin Investment Advisory purchased a new stake in Cisco Systems in the 4th quarter worth about $31,000. Finally, Defined Wealth Management LLC purchased a new stake in Cisco Systems in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 70.62% of the company’s stock.
A number of analysts recently weighed in on CSCO shares. Raymond James increased their price objective on shares of Cisco Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 10th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and set a $55.00 target price on the stock in a research report on Thursday, March 11th. Citigroup raised their target price on shares of Cisco Systems from $45.00 to $50.00 in a research report on Wednesday, February 10th. Piper Sandler raised their target price on shares of Cisco Systems from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 10th. Finally, Credit Suisse Group raised their target price on shares of Cisco Systems from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 10th. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Hold” and an average target price of $49.48.
In other Cisco Systems news, EVP Mark D. Chandler sold 3,024 shares of the firm’s stock in a transaction on Friday, February 12th. The shares were sold at an average price of $47.21, for a total value of $142,763.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Prat Bhatt sold 6,273 shares of the firm’s stock in a transaction on Friday, February 12th. The stock was sold at an average price of $47.21, for a total transaction of $296,148.33. Following the completion of the transaction, the chief accounting officer now directly owns 119,282 shares of the company’s stock, valued at approximately $5,631,303.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,776 shares of company stock valued at $1,832,205. 0.02% of the stock is owned by insiders.
CSCO traded down $0.11 during trading on Thursday, hitting $51.66. The stock had a trading volume of 270,092 shares, compared to its average volume of 22,293,586. The company has a market capitalization of $218.10 billion, a PE ratio of 21.00, a PEG ratio of 2.54 and a beta of 0.95. Cisco Systems, Inc. has a twelve month low of $35.28 and a twelve month high of $52.94. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.54 and a current ratio of 1.59. The stock has a 50 day simple moving average of $48.45 and a two-hundred day simple moving average of $43.93.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.03. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.92 billion. Cisco Systems had a net margin of 21.76% and a return on equity of 32.64%. During the same period last year, the firm earned $0.77 earnings per share. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 2.86 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 28th. Shareholders of record on Tuesday, April 6th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.86%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, April 5th. Cisco Systems’s dividend payout ratio (DPR) is 50.68%.
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
Further Reading: Bull Market
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